Global bond yields have been high for decades, exacerbated by the US-Iraq impasse

Tuesday's upswing in the global government bond market has led to a sharp rise in borrowing costs to decades, as hopes for peace in the Middle East rapidly recede. United States President Trump ruled out the extension of the ceasefire agreement with Iran on Monday, while Iran issued a new threat of military escalation. At the same time, a cargo ship was shelled in the Strait of Hormuz, further exacerbating the market ' s concerns about rising energy and other important commodity prices. The 30-year national debt return in the United States rose by nearly two basis points to 5.3275 per cent, the highest level since 2002. Germany and France also had the highest return on their 10-year sovereign debt since 15 years and 2008 respectively。