Government borrowing costs in several advanced economies hit their highest level since the 2008 financial crisis, or even earlier, on Monday as investors feared the Middle East crisis would keep inflation persistently high.
Concerns over rising prices and government spending pushed up the cost of debt issued by Paris, Berlin, Washington DC, Tokyo and London as investors fretted that rising prices would push up interest rates.
The yield, or interest rate, on 30-year French bonds rose to its highest level since September 2008 at 4.8558%, up one basis point (0.01 percentage point), LSEG data showed.
The Middle East crisis. To be followed by the El Niño food crisis, to be followed by whatever next. World is not returning to a low inflationary environment any time soon
Plus the AI bubble has been vacuuming any loose money looking for (supposedly safe) fixed income investments by issuing hundreds of billions on dollars in corporate debt.