Global Bond Sell-Off Weighs on Asian Markets Amid Oil Price Decline

Asian stock markets showed mixed results on Friday after a global bond sell-off and decline in oil prices added pressure to the stock market.

The yield on the U.S. 10-year Treasury reached its highest since 2007, reaching around 5.17% early Friday morning.

U.S. Treasury yields have been elevated due to growing inflationary pressures from the Iran war-driven energy shock and rising U.S. government debt.

The Strait of Hormuz, a key waterway for global oil transport, was also being monitored by investors looking for signs of its reopening.