The resumption of fighting has scotched hopes that a peace deal between the US and Iran would mark a return to normal after months of war.

(Bloomberg) -- Oil rose and Treasuries fell after the US launched another round of strikes against Iran, reviving concern that higher energy prices will keep inflation elevated…

Escalating tensions between the U.S. and Iran have knock-on effects for inflation expectations and as a result, the trajectory of the base rate, notes Goldman Sachs.