Oil Prices Hit $100, Driving Global Bond Sell-Off; ECB Holds Rates

Global bond markets are experiencing a sell-off as oil prices surged to $100 per barrel for the first time since May. This rise in oil prices is rekindling inflation threats, creating challenges for central banks including the Bank of England, the Federal Reserve, and the European Central Bank. The European Central Bank, however, held its interest rates steady at 2.25% after debating a potential rise.