US Bond Yields Surge Amid Middle East Conflict and Global Recession Fears

The 30-year US Treasury yield topped 5.43% on Wednesday, marking its highest close since 2004 following bond market sell-offs driven by geopolitical tensions.

Economist David Rosenberg warned of a potential global recession due to energy price shocks stemming from the ongoing US-Israel conflict with Iran.

Crude oil prices have surpassed $100 per barrel, pushing US diesel to an all-time high of $6.52 a gallon and threatening global supply chains.