US Bond Markets Sell Off As Iranian Drones Hit UAE Fujairah Hub
BeInCrypto
Iranian drone strikes on the UAE's Fujairah oil hub caused oil prices to surge and triggered a sell-off in U.S. Treasury bonds.Summary
Iranian drone strikes on the Fujairah Oil Industry Zone in the UAE, a critical bypass for the Strait of Hormuz, have caused oil prices to jump above $120 per barrel. The attack, which injured three workers and forced the suspension of some operations, has disrupted a recent ceasefire. Consequently, U.S. bond markets experienced a significant sell-off, pushing 10-year Treasury yields to a nine-month high of 4.46% as investors react to renewed inflation concerns and the potential for long-term Federal Reserve rate hikes.
(Source：BeInCrypto)