Bond Yields Soar as Oil Prices Surge Past $100

Global bond yields jumped to multi-year highs on Thursday as investors grappled with the prospect of prolonged conflict in the Middle East, driving oil prices above $100 a barrel.

U.S. President Donald Trump added fuel to the fire by proposing to pay every U.S. adult a $5,000 'Trump dividend' if his party wins November's midterm elections.

The European Central Bank raised interest rates on Thursday for the second time this year, warning that price pressures could be long-lasting and sparking bets on further policy tightening as soon as October.

Bond yields soared to new multi-decade highs around the world, with the U.S. 30-year yield hitting its highest level since 2007.