Global Bond Yields Climb and Oil Prices Surge Amid Renewed US-Iran Hostilities

Renewed hostilities between the U.S. and Iran have driven crude oil prices higher and pushed global bond yields to multi-year highs. The benchmark U.S. 10-year Treasury note yield hit 4.814%, its highest level since November 2023. Yields in the U.K., Germany, and France also rose, with Japan's 10-year government bond yield remaining near a multi-decade high. This geopolitical tension is contributing to inflation concerns and impacting financial markets globally.