Oil Price Surge Triggers Bond Selloff Amid Inflation Fears
A selloff in Treasuries resumed on September 28, as oil prices rose following President Donald Trump's rejection of Iran's latest proposal to reopen the Strait of Hormuz.
The intensified inflation concerns triggered a sharp decline in rate-sensitive US short-end bonds and their global peers.
US two-year yields jumped five basis points to 4.91%, while those on German and UK counterparts rose by the same amount, reaching 3.33% and 4.89%, respectively.