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Global Bond Markets Roiled as Yields Surge on Inflation Concerns

Bond markets worldwide faced turbulent trading as longer-dated yields climbed to multi-year highs. The 30-year US Treasury yield exceeded 5.19%, marking levels unseen since the 2008 financial crisis. Traders assessed implications of elevated oil prices tied to Middle East tensions. Central banks faced scrutiny over policy moves as inflation concerns mounted. A scheduled Japanese government bond sale of 20-year securities tested investor appetite on Wednesday. Global fund managers weighed securing rates near two-decade highs against hedging against potential further declines. Currency markets reflected the volatility, with the Australian dollar facing headwinds as yield differentials against US assets compressed.