In trading on Monday, the fixed income market is pricing in two 0.25-percentage-point rate hikes in 2026, with the first in June.
Pricing has been adjusted since energy prices skyrocketed in the wake of a US and Israeli attack on Iran and Iran's counterattacks on targets in oil- and gas-producing countries on the other side of the Persian Gulf.
The price of Brent crude oil on the world market rose above $100 per barrel on Monday, a 75 percent increase this year. Natural gas prices are also soaring and have more than doubled on the European commodity market since the start of the year.
