The National Bank of Serbia has published its weekly review of global financial market developments for 25 to 29 May 2026. The review points to a stronger euro against the USD, lower US and German government bond yields, a rise in gold and a sharp fall in Brent crude, with market moves driven mainly by shifting expectations around a possible US-Iran agreement and related developments in the Strait of Hormuz, alongside US and euro area macroeconomic data. Over the week, the euro gained 0.53% against the USD to close at 1.1672. US Treasury yields fell on maturities of one year and longer, with the two-year yield down about 12 basis points to 4.01% and the 10-year yield down about 12 basis points to 4.44%, while German two-year and 10-year yields fell to 2.53% and 2.94%. The report also highlights April US PCE inflation at 3.8% year on year, first quarter US GDP growth at 1.6% annualized in the second estimate, Germany's May harmonized inflation at 2.7% and unemployment at 6.3%. In emerging markets covered, Hungary kept its benchmark rate at 6.25% and the Federation of Bosnia and Herzegovina issued a EUR 800 million five-year eurobond at a 5.250% yield. Gold rose 1.15% to USD 4,566.95 per ounce, while Brent fell to USD 92.05 per barrel.
National Bank of Serbia2026-06-02
National Bank of Serbia publishes weekly market review as euro strengthens US and German yields fall and Brent drops 11.1%
The National Bank of Serbia published its weekly review of global financial markets for 25–29 May 2026, noting a stronger euro against the USD, lower US and German government bond yields, higher gold prices and a sharp fall in Brent crude. The report attributes market moves mainly to shifting expectations around a possible US-Iran agreement and developments in the Strait of Hormuz, as well as US and euro area macroeconomic data, and highlights stable policy in Hungary and an EUR 800 million eurobond issue by Bosnia and Herzegovina’s Federation.