Morning Bid: Bonds boil

Energy markets experienced significant upward movement following a new wave of strikes in the Iran war, triggering a broader sell-off across global bond markets. The price increases in crude oil and natural gas coincided with expectations that major central banks would implement interest rate rises during the month ahead.
U.S. 10-year Treasury yields reached their highest level since 2023, climbing to 4.8% on Wednesday as oil and gas prices advanced. The yield movement has reverberated through