Brent Crude Spike Intensifies Global Bond Market Pressures

The global bond market is facing increased pressure due to rising oil prices, which have surged by +42.0% from their late-June lows.

This increase in Brent crude has coincided with a major global bond selloff, with 10-year U.S. Treasury yields advancing for a seventh straight month.

According to Deutsche Bank's Jim Reid, the re-escalation of the US-Iran conflict was the main driver behind the spike in oil prices, which has also contributed to inflationary pressures.