Oil Jumps Above $107, Bond Yields Surge Higher, Stocks Fall

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Oil prices have surged to their highest levels since May, with Brent crude futures exceeding $107 per barrel. This spike is driven by renewed fighting in the Persian Gulf and investor concerns regarding the duration of the war in Iran. Consequently, stocks have fallen while bond yields have surged higher. Specifically, the Canada 10-year yield jumped as the oil surge and rising inflation fears triggered a significant bond selloff across the financial markets.
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