Germany’s 10-year Bund yield stabilized around 2.7%, its highest level since early October, as investors digested updated European Commission economic projections and braced for a wave of delayed US data, including September’s employment report, for further signals on the Fed’s policy direction. The Commission revised its outlook for Germany, now forecasting 0.2% GDP growth in 2025, up from -0.2% predicted in the spring, and a rebound to 1.2% in 2026 and 2027, reflecting a boost from increased public spending partially offset by trade tensions affecting exports. Meanwhile, the German Council of Economic Experts trimmed its 2026 growth forecast to 0.9% from May’s 1.0%, more pessimistic than the government’s 1.3% projection, following near-stagnation in 2025. On monetary policy, the ECB is expected to keep rates on hold for some time, while US markets now see only a 40% chance of a December Fed cut following a slew of hawkish remarks from FOMC members.