Governments’ borrowing costs hit further multi-decade highs as US-Iran peace hopes fade

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Bond yields in US, UK, Germany France and Japan rise after ceasefire ends and Trump threatens to bomb Oman

Government borrowing costs continued to rise to levels not seen in decades on Tuesday, as hopes of an end to the US-Iran war faded.

Concerns about the inflation outlook worsened after the ceasefire between Washington DC and Tehran ended on Monday night without an agreement, with no progress on the reopening of the strait of Hormuz.