US Yields Climb to Multidecade Highs Amid Iran War, Budget Concerns

US and advanced-economy yields have surged to multidecade peaks, driven by higher inflation from US-Iran escalation and fiscal shortfalls. Traders have cut rate-hike expectations by nearly 200 basis points since mid-September across eight major economies. USD strengthens on higher yields; EUR under pressure from concurrent Eurozone sovereign-debt stress, particularly French budget and spread widening.