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Brent pushes past $90 as Hormuz risk lifts bond yields and tests 10-year
US 30-year Treasury yields reached their highest level in nearly two decades, with the US 10-year around 4.75% viewed as the next market test if the oil-driven inflation shock spreads.
A decisive move by Brent above $90 is spilling into broader market pricing, with Action Forex linking the jump to renewed Middle East uncertainty after the 60-day US-Iran ceasefire framework expired without a clear diplomatic path forward.
The outlet says the oil shock is being treated less like a contained energy event and more like an inflation and rates story, a shift that is showing up in rising global bond yields, including Germany’s 10-year Bund yield hitting its highest level since 2011.
Action Forex also points to ongoing Strait of Hormuz risk, citing remarks from Iranian officials about keeping the strait closed until demands are met, alongside US rhetoric that Iran must abandon nuclear-weapons capability. Separately, UKMTO reported another vessel was struck by an unknown projectile in the Strait, causing engine-room damage and a crew casualty.
In the fixed-income yardstick the market is watching, Action Forex notes the US 30-year Treasury yield is at its highest in nearly two decades and frames a sustained break near 4.75% on the US 10-year as a signal the oil shock may be spreading into wider financial conditions beyond energy prices.
Latest closeBrent $88.59 ▲1.8%