US-Iran Tensions Spark Oil Price Surge, Global Bond Sell-Off

Tensions between the US and Iran have reignited concerns about inflation, causing oil prices to surge to $95.61 per barrel on Brent crude.

This sharp increase has led to a heavy sell-off in global bond markets, with major sovereign bonds experiencing multi-decade or historic highs in yields.

The yield on the US 10-year Treasury note rose to 4.81%, its highest level since 2011, while Japan's 10-year government bond yield surpassed 3% for the first time since 1996.

South Korea's KOSPI Composite Index fell by 4%, with major tech companies SK Hynix and Samsung Electronics both declining more than 4%.