Oil Jump Triggers Global Bond Selloff as Markets Price in More Hikes

Oil surged to around $92 a barrel on US-Iran tensions, pushing euro-area and Japanese yields to multi‑year highs and fanning inflation fears that keep major central banks on a tightening path. ECB rate hike bets solidify for the Sept. 9‑10 meeting, while US traders increasingly price in a September Fed move (around 60% probability). European stocks edged lower and US futures dipped as investors reassess inflation risks, with gold holding gains and the dollar softening amid the policy crossroads.