Oil-Driven Inflation Worries Plunge Asian Bond Markets

Asian government bond markets declined on September 29th as investors grew concerned about inflation due to rising oil prices, which climbed to $93.12 a barrel.

The US-Iran standoff and subsequent tensions in the Middle East contributed to higher energy costs, sparking worries about global economic growth and interest rates.

Bloomberg reported that the 10-year Treasury yield jumped to 5.27%, its highest level in nearly two decades, while shorter-term yields also rose.

The yen was little changed at 157.40 per dollar, despite warnings from Japan's top currency official about the country's weakening currency.