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Borrowing Costs Surge Amid Inflation Fears | Business and Finance News
Description
Treasury yields soar to 5.32%—highest since 2007—as Iran tensions and stubborn inflation drive borrowing costs up, threatening higher mortgages and credit cards. Stocks dip across the board as investors flee bonds amid rising prices. A global oil shock, fueled by the Iran conflict, has pushed gas to $4.06 and is inflating everyday costs. July’s 3.4% inflation still beats the Fed’s 2% target, yet no rate hikes have occurred—raising doubts about when—or if—the Fed will act decisively, with only a 34% chance of a September move.
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