US bonds hit new high as higher oil cost causes borrowing spike

Michael RaceBusiness and economics reporter, New York The war in Iran led to the effective closure of the Strait of Hormuz, with a significant impact on the price of oil and gas Today, US bonds hit a fresh high of 4.79% on borrowing over 10 years, the highest level since October 2023. The main driver of borrowing spikes has been increased prices for oil. Investors on global financial markets fear inflation will erode purchasing power and so demand higher yields to buy up government debt. On Tues