Oil prices jumped to their highest levels since May amid renewed fighting in the Persian Gulf and investor concerns that the war in Iran will persist longer than previously thought.
\n\nBrent crude futures crossed above $107 a barrel and WTI futures neared $102. The possibility of a near-term contraction in oil supplies and a protracted war has been pushing up energy prices for several weeks, with the climb accelerating this week.
\n\nYields on bonds issued by the U.S. government climbed to new multiyear highs. The yield on 10-year U.S. Treasuries climbed 0.082 percent to 4.922 percent. That matched the post-pandemic highs hit amid raging inflation and Federal Reserve interest rate increases aimed at restoring price stability.
\n\nShorter-term Treasury yields also rose, reflecting increased expectations for rate increases from the Fed. The yield on the 2-year Treasury rose sharply, climbing 0.114 percent to 4.541 percent.
\n\nYields on government bonds around the world climbed. Yields on government bonds issued by Germany, the U.K., France, and Japan were higher.
\n\nBond yield rise when bond prices fall. A rising yield reflects investors requiring higher returns for holding government securities. This can be due to rising inflation expectations, rising competition from other securities when investors…
Original source: https://www.breitbart.com/economy/
