Eurozone inflation rises again in August, increasing global bond sell-off pressure

⑴ Eurozone inflation rose year-on-year to 3.3% in August, marking the third consecutive month of increases. This strengthens the basis for European Central Bank rate hikes and further fuels the global bond sell-off. ⑵ Since March, Eurozone inflation has consistently exceeded the European Central Bank's 2% policy target, with elevated energy prices due to the US-Iran conflict being a significant factor. ⑶ Prior to the release of this data, the market widely expected that the European Central Bank would implement a rate hike at next week's meeting.