Stocks Climb as Oil Retreats on US-Iran Deal Hopes: Markets Wrap
Asian stock and bond markets are facing losses as rising oil prices fuel inflation concerns. These pressures have pushed Treasury yields to multi-decade highs and increased expectations for further Federal Reserve rate hikes.
Hopes for a diplomatic breakthrough in the Iran war drove oil prices lower, fueling a rebound in stocks and easing the Treasury volatility that has roiled financial markets around the world.
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