investingLive European session wrap: Higher oil prices, bond yields continue to pressure markets

Headlines: Brent crude above $100 and 10-year Treasury yields above 5% give markets a double test SNB leaves policy rate unchanged at 0% in September meeting, as widely expected USD/JPY races to three-week high above 158 as buyers eye a technical break higher Gold prices slide toward last week’s lows as 10-year Treasury yields blow past 5.10% Crude oil extends gains as expectations for an earlier end to the Iran war fade. What's next? How to trade Nasdaq today: Three areas worth watching while you wait for opportunity Fed policymaker Williams says another rate hike this year is "reasonable" as inflation is the main obstacle Germany business sentiment improves further in September despite price concerns - Ifo Bitcoin extends losses as higher oil prices and Fed rate hike bets weigh on the crypto market Markets: WTI crude up 0.7% to $93.42 10-year Treasury yields up 1 bps to 5.12% USD leads, JPY lags on the day Gold down 0.5% to $4,265 European stocks lower; S&P 500 futures down 0.6% Bitcoin down 1.1% to $83,410 It was an eventful session in European morning trade today, with investors having to deal with two main pressure points in broader markets. Oil prices are moving higher again, as US-Iran diplomacy hopes fade as talks don't seem to be yielding a breakthrough. WTI crude oil is pushing higher by 0.7% to $93.42 with Brent crude's November contract briefly touched above $105. That is putting inflation fears back in focus alongside another surge in bond yields. 10-year Treasury yields briefly hit 5.15% during the session, their highest since 2007, in extending the breakout from yesterday. The move here continues to reverberate across broader markets, delivering a warning signal to risk assets in particular. Equities were already hit yesterday and are being dragged lower again today as a result. European indices are holding lower with the DAX down by 0.4% and CAC 40 down by 0.2%. At the margin, the losses seem to be relatively contained. However, the danger is that an