G7 bond yields surge to 4.6% as Iran war closes Strait of Hormuz, pushing oil past $111. Central banks face inflation-growth dilemma with no easy answers.

The US dollar remains strong near a six-week peak, driven by inflation fears and the potential for higher interest rates due to the Iran war. This surge is pushing the Japanese…

The Middle East war is driving up the cost of public debt in rich countries which could jam state budgets and push governments to unfold austerity policies, economists warn.