Rolling coverage of the latest economic and financial news
Elsewhere this morning, oil is rising again as optimism fades on possible progress in talks between the US and Iran. Brent crude, the international benchmark for oil prices, rose by as much as 3.29% this morning to $107.75 a barrel.
Iran announced a peace proposal last week at the UN General Assembly in New York, saying it had been transmitted to the US via Qatari mediators. Donald Trump said on Saturday he rejected the plan, but told Axios in a phone interview on Sunday that he expected US negotiators to engage in more talks this week
Worries around continued conflict in the Middle East – and the impact it can have on global inflation – are growing in the bond market too. US treasury yields are up, with the 10-year up 3 basis points to 5.21%. So too are UK bond yields – the 10-year gilt is up 4 basis points to 5.403% this morning.
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That…
