Commodities
Brent Crude Soars Past $87 Amid Middle East Tensions
Brent crude prices have surged past $87.50 per barrel following renewed regional hostilities in the Middle East, putting pressure on bond markets as investors await the upcoming US Federal Reserve policy decision.
The global market shift highlights a move away from technology stocks toward cyclical sectors as inflation concerns return.
The yield on the benchmark 10-year US Treasury note rose to 4.62% as traders adjust their expectations for future inflation, which can be exacerbated by higher energy costs.