Global bond selloff deepens as US launches fresh attacks on Iran

Oil prices rose, stocks fell and bond yields spiked after the US launched fresh attacks on Iranian targets. Japan’s 10-year bond yield hit 3 percent for the first time since 1996. The deepening global selloff comes amid fears over rising inflation and concern over mounting government debt, which in the US has risen above $40 trillion. Meanwhile, in the single-currency eurozone, inflation rose to the highest level in three years in August, driven by higher energy prices.