Commodities
Energy Prices Plummet, Lift European Bonds
The European bond market experienced gains on September 29th as energy prices retreated. Gilts led the way, with benchmark UK 10-year yields decreasing by almost 7bps. This move followed reports that EU officials do not expect the US to ban diesel exports and that Qatar is holding meetings with the US and Iran over the Middle East conflict.
The decline in oil and natural gas prices contributed to the market's rally, as these commodities fell to new lows on the day.