European markets eased on Wednesday as escalating geopolitical tensions offset softer-than-expected US inflation data. The pan-European Stoxx 600 moved 0.11% lower to €641, giving back some of the previous session’s gains. London’s UKX fell 0.62%, Germany’s DAX declined 0.94%, and France’s CAC slipped 0.48%. Spain’s annual inflation rate was unrevised at 3.2% in June, while consumer prices in Sweden rose 0.7% year-on-year. In the bond market, the yield on the US 10-year Treasury was up 1 basis point to 4.60%, the UK’s 10-year yield rose 1 basis point to 4.99%, and Germany’s 10-year yield added 4 basis points to 3.11%. Gold eased toward $4,000 an ounce, surrendering some of the previous session’s gains as Middle East tensions kept inflation and rate concerns in focus.