Global Markets Wobble as Bond Yields and Iran Tensions Rise

Global stock markets declined on Monday as investors remained concerned about rising bond yields and their impact on borrowing costs. The S&P 500 futures fell 0.2%, while the Dow Jones Industrial Average futures dropped 0.1%. In contrast, Australia's S&P/ASX 200 gained 0.5%, bucking the regional trend.

The Iranian rial hit a record low against the US dollar, with an informal rate of 2.02 million to one USD. The official Central Bank rate stood at around 1.5 million rials to the dollar, but this is not what most Iranians pay.

The Federal Reserve's preferred measure of inflation, the PCE, will be released on Wednesday, providing an important update for investors. The Fed has been struggling to get inflation back to its target rate of 2%, with rates currently above 3%.