Source: International Business Times
Continued disruption around the Strait of Hormuz and Red Sea, combined with reduced Saudi Arabian oil production, has raised concerns that elevated energy prices could persist rather than prove to be a temporary shock. Mario Tama/Getty Images Global bond markets came under renewed pressure Friday as oil prices hovering above $100 a barrel intensified fears that the latest energy shock could leave major economies facing an uncomfortable combination of stubborn inflation, weak growth and higher borrowing costs. Germany's 10-year government bond yield, the benchmark for the euro area and traditionally considered one of the world's safer sovereign assets, crossed 3.
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