0708 GMT - The German 10-year Bund yield rises to a 15-year high of 3.249% in opening trade, as eurozone government bond yields increase together with U.S. Treasury yields. Rising U.S. government spending, pointing to a challenging fiscal outlook, are a key factor behind higher Treasury yields. Additionally, yields rise as a lack of progress towards a resolution in the U.S.-Iran conflict keeps oil prices high, intensifying inflationary pressures. "Progress towards normalising tanker traffic through the Strait of Hormuz has stalled, and Trump's threat of military action against Oman added to tensions," Danske's Filip Andersson says in a note.