Sep 2, 2026 – 6.11pmSoaring oil prices have triggered a global bond market meltdown, with borrowing costs hitting multi-decade highs, pressuring central banks to do more to stamp out inflation and raising the prospect of two more interest rate rises in Australia this year.Government bond yields have been pushed to levels not seen since the global financial crisis in 2008 after an escalation in the Iran war this week sent Brent crude back above $US95 a barrel, fanning fears of runaway inflation.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Global bond storm puts two RBA rate rises on the table
The vast majority of economists predict the RBA will lift rates once before Christmas, starting as soon as this month. But traders are betting on more.
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