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(https://www.globalbankingandfinance.com/) Home  › (https://www.globalbankingandfinance.com/category/finance/) Finance  › Surge in bond yields is a result of "Trump's war", German minister says    (https://www.globalbankingandfinance.com/category/finance/) Finance  Surge in bond yields is a result of "Trump's war", German minister says   Published by (https://www.globalbankingandfinance.com/author/global-banking-and-finance-review/) Global Banking & Finance Review   Posted on August 24, 2026   2 min read  · Last updated: August 24, 2026   (https://www.google.com/preferences/source?q=globalbankingandfinance.com)      Add as preferred source on Google    (https://www.globalbankingandfinance.com/tag/finance/) Finance  (https://www.globalbankingandfinance.com/tag/banking/) Banking  (https://www.globalbankingandfinance.com/tag/markets/) Markets     Quick Summary  Germany’s 30‑year bond yield has surged to its highest since 2011 amid inflation fears tied to the U.S.‑Iran conflict, which German Finance Minister Lars Klingbeil blamed on “Trump’s war in Iran.” Washington is broadening secondary sanctions, pressuring countries to cut economic ties or face exclusi    Table of Contents  (index.html#heading-impact-of-iran-conflict-on-global-bond-yields) Impact of Iran Conflict on Global Bond Yields  (index.html#heading-finance-minister-s-statement) Finance Minister’s Statement  (index.html#heading-german-bond-market-reaction) German Bond Market Reaction  (index.html#heading-u-s-policy-and-ongoing-tensions) U.S. Policy and Ongoing Tensions  (index.html#heading-reporting-credits) Reporting Credits     German Finance Minister Blames Trump’s Iran Conflict for Surge in Bond Yields Impact of Iran Conflict on Global Bond Yields By Maria Martinez Finance Minister’s Statement BERLIN, Aug 24 (Reuters) - The recent surge in bond yields is a result of United States President "Donald Trump's war in Iran", German Finance Minister Lars Klingbeil said on Monday at a press conference in Schaan, Liechtenstein.  "The rise in interest rates in recent days and weeks is the result of global uncertainty triggered by Donald Trump's war in Iran," he said speaking alongside the finance ministers of other German-speaking countries.  German Bond Market Reaction Germany's 30-year government bond yield hit its highest since 2011 at 3.79% last week, with inflation fears tied to the Iran war adding to the selloff in bonds.  Germany, the euro zone's benchmark issuer, sold a bond at that maturity a day earlier with the highest yield in 15 years. U.S. Policy and Ongoing Tensions Washington was set to warn countries to cut ties with Iran or risk their businesses being cut off from the dollar-based financial system, a source told Reuters on Monday. The U.S. and Iran have not conducted air strikes on each other's militaries for weeks, but their last official face-to-face talks to end the six-month-old conflict took place in June and strikes on vessels in the Strait of Hormuz have continued. Reporting Credits (Reporting by Maria MartinezEditing by Ludwig Burger)  Advertisement   (https://www.globalbankingandfinance.com/global-banking-finance-awards-nominations/) (Global Banking & Finance Awards 2026 — Call for Entries)    Newsletter  Stay ahead of the markets  The day's essential banking & finance news, free to your inbox.   (Email address)   Subscribe       JavaScript is required for instant feedback — or email (mailto:newsletter@gbafmag.com) newsletter@gbafmag.com .        Key Takeaways  German 30‑year bond yield hit 3.79% — highest since 2011 — driven by inflation fears and record debt issuance amid Iran war tensions ((https://ca.finance.yahoo.com/news/record-german-debt-sales-deepen-050244561.html?utm_source=openai) ca.finance.yahoo.com ) Finance Minister Lars Klingbeil attributed the bond selloff to global uncertainty from President Trump’s military‑economic campaign against Iran ((https://www.bundesfinanzministerium.de/Content/EN/Standardartikel/Topics/Financial_markets/Articles/imf-spring-meetings-2026-washington.html?utm_source=openai) bundesfinanzministerium.de ) U.S. is set to expand secondary sanctions in an “economic D‑Day” to pressure countries into severing ties with Iran or risk losing access to the dollar‑based financial system ((https://www.investing.com/news/commodities-news/us-treasury-to-broaden-scope-of-secondary-sanctions-on-iran-source-says-4873545?utm_source=openai) investing.com )   References (https://ca.finance.yahoo.com/news/record-german-debt-sales-deepen-050244561.html?utm_source=openai) Record German debt sales deepen strains for Europe's battered bond market   (https://www.bundesfinanzministerium.de/Content/EN/Standardartikel/Topics/Financial_markets/Articles/imf-spring-meetings-2026-washington.html?utm_source=openai) Federal Ministry of Finance - International talks on current crises: Lars Klingbeil at the IMF spring meetings   (https://www.investing.com/news/commodities-news/us-treasury-to-broaden-scope-of-secondary-sanctions-on-iran-source-says-4873545?utm_source=openai) U.S. Treasury to broaden scope of secondary sanctions on Iran, source says By Reuters     Frequently Asked Questions Why have bond yields surged recently? Bond yields have surged due to global uncertainty triggered by Donald Trump's war in Iran, according to Germany's finance minister.   What is the highest yield recently reached by Germany's 30-year bond? Germany's 30-year government bond yield hit 3.79%, the highest since 2011.   How has the Iran conflict affected financial markets? The Iran conflict has increased global uncertainty and inflation fears, leading to a selloff in bonds and higher yields.   What warning is Washington set to issue regarding Iran? Washington is set to warn countries to cut ties with Iran or risk losing access to the dollar-based financial system.     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