Global bond yields hit multi-year highs as oil price surge stokes inflation fears
Global bond yields surged to multi-year highs on Tuesday as Middle East fighting lifted oil prices and traders braced for interest rate hikes. Japan's 10-year yield hit 3% for the first time since 1996, while the US 10-year Treasury yield rose to 4.79%. Stock markets fell worldwide, with Hong Kong's Hang Seng dropping 1%.