Yields hit home

The global bond selloff pushes US 30-year yields to their highest in more than two decades, driving mortgage rates about 7% and squeezing borrowers. Reports of a phased US-Iran deal offer some hope that the Strait of Hormuz could reopen. But oil markets remain cautious with any relief from a deal unlikely to come quickly.

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Today's recommended read: AI challenges fuel trading's old guard⁠⁠⁠⁠ by Clyde Russell

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