Eurozone government bond yields moved higher on Monday as renewed military escalation between the United States and Iran intensified concerns over global inflation. Meanwhile, oil prices surged after Tehran announced another closure of the Strait of Hormuz, Reuters reported.
The latest exchange of missile and drone attacks between U.S. and Iranian forces has cast fresh uncertainty over the interim agreement signed between the two countries last month. The deal had aimed to reopen the strategically vital Strait of Hormuz and pave the way for a broader peace settlement following a 60-day negotiation period.
