Oil tops $100 amid energy market concerns

The rise in oil prices to over $100 per barrel has led to U.S. Treasury bond yields reaching their highest levels since 2007, with expectations of increased inflation and the Federal Reserve raising interest rates. The yield on the 10-year U.S. Treasury bond has reached 5.23%, and the yield on 20-year bonds has also surpassed 5.5%. The global bond market is experiencing widespread sell-offs due to inflation fears driven by rising energy costs, which in turn increase borrowing costs for both the government and the private sector, putting significant pressure on public debt. Furthermore, markets are anticipating two additional interest rate hikes by the U.S. before the end of January 2024.

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