Global Bond Yields Rise as Oil Surges
Global bond yields hit multi-year highs and Asian shares declined as surging oil prices and fiscal concerns heightened inflation fears. Markets now await upcoming United States consumer price data to gauge Federal Reserve policy.
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The benchmark 10-year United States Treasury yield hit 4.9708% in Asia, approaching the 5% threshold as global bond markets face a relentless sell-off. The surge is driven by escalating fiscal concerns and surging energy costs worldwide. Investors are re-pricing debt as central banks face mounting pressure to keep inflation under control.
