Bonds Extend Selloff, Stocks Decline as Oil Rises: Markets Wrap

A selloff in global bonds extended as the deadlock over the Iran war drove oil prices higher, fueling inflation concerns and raising bets that central banks will need to keep tightening policy.

Treasuries declined across the curve with the 30-year yield rising to the highest in almost three years on investor fears over accelerating inflation. Japan’s 10-year yields jumped 10 basis points to levels last seen in 1996, while the nation’s 30-year yield surged 20 basis points to the highest since its 1999 debut. Bonds also dropped in emerging economies such as Indonesia and India.