Eurozone Inflation Hits Three-Year High Amid Global Tensions

European stock markets are trading cautiously higher as investors weigh in on rising inflation and global tensions. The eurozone's annual inflation rate jumped to a three-year high of 3.8% in September, up from 3.2% the previous month.

The European Central Bank is likely to take notice of this development, which could influence its monetary policy decisions. Meanwhile, the Middle East remains a focal point for investors, with reports suggesting that Washington is sending another aircraft carrier and thousands more troops to the region.

The bond market continues to attract attention, with the 10-year Treasury yield reaching a new high since 2002 at 5.247%. The euro has dropped to its lowest level against the dollar in nearly two years, and concerns over French public debt are further weighing on it.