Bond Sell-Off Woes Hit Asian Markets Amid Oil Price Drops

Asian markets are experiencing mixed results following another bond sell-off that has driven U.S. Treasury yields to their highest in years.

The global sell-off in the bond market is putting additional pressure on stock markets, with the yield on the U.S. 10-year Treasury reaching its highest since 2007 at around 5.19% early Friday.

This has contributed to a drop in oil prices, with Brent crude falling 1.4% to $98.84 per barrel, below the $100 mark but still above the roughly $72 a barrel level seen before the start of the Iran war-driven energy shock.