Jul 28, 2026 – 8.00pmThe latest lull in the Iran war has not alleviated fears rattling the bond market that central banks will have to keep interest rates at high levels for the foreseeable future as traders steel themselves for a pick-up in inflation.After President Donald Trump threatened a “massive attack” on Iran late last week, the US has held off on strikes for the last few days, which helped send Brent crude tumbling back below $US100 a barrel even as the Strait of Hormuz remains shut.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles