Euro zone bonds join global selloff, long-end yields at multi-year highs

On Tuesday, yields on longer-dated euro zone bonds surged to levels not seen in years. The increasing oil prices, spurred by diminishing expectations for a quick resolution to the conflict in Iran, intensified inflation worries throughout the markets. Consequently, investors are anticipating a quarter-point interest rate hike from the ECB, while apprehensions about fiscal stability in various nations add pressure on global bonds.