Global bonds battered as flaring inflation spooks investors

Synopsis Global bond markets are experiencing significant interest rate hikes, driven by escalating energy prices from the Iran conflict and persistent inflation. This is impacting everything from homebuying to corporate borrowing, with benchmark U.S. Treasury yields reaching yearly highs. Investors are now anticipating further rate increases from central banks worldwide, a stark shift from earlier expectations of cuts. Bond markets are bracing for interest-rate pain in a way they haven’t in decades, as investors assess the economic costs of the war with Iran and how the global economy will bear those burdens. Benchmark 10-year U.S. Treasury yields hit their highest…