UK thirty-year government bond yields rose to five point seven six percent, the highest since 1998. Rising fuel prices and political stability concerns are pushing up borrowing costs, squeezing Chancellor Rachel Reeves fiscal headroom.
The Reserve Bank of Australia raises rates again, warning that Middle East conflict is pushing up fuel and commodity prices, keeping inflation elevated for an extended period.
US gasoline prices rose more than 30 cents per gallon in the past week, with the Strait of Hormuz closure and Iran conflict pushing energy costs higher
US Commerce Department data shows Q1 2026 GDP grew 2%, recovering from the prolonged federal government shutdown. However, soaring energy prices and supply chain disruptions caused by the Iran war cast uncertainty over the economic outlook for the second half of the year.
The Real Greek, a well-known Mediterranean-style restaurant chain in the UK, is set to enter administration with all 28 outlets at risk of closure, highlighting the severe pressures facing Britain’s hospitality sector.
US gasoline prices have jumped nearly 30 cents in one week to $4.30 per gallon, driven by the Iran war and the Strait of Hormuz blockade.
Oil prices surged to their highest level since 2022 after Axios reported US Central Command prepared strike plans against Iran; the Bank of England held rates but warned Middle East conflict could fuel inflation.
US Commerce Department reports Q1 2026 GDP grew at a 2.0% annualized rate, rebounding from a weak Q4, driven by massive AI sector investment and recovering government spending, though consumer spending slowdown and rising core PCE raise inflation concerns.
The Bank of England’s Monetary Policy Committee votes to hold the base rate at 3.75%, but warns that energy price shocks from the Iran conflict could force rate hikes within the year.
The Federal Reserve kept interest rates unchanged at its April meeting, with growing divisions among policymakers on future direction. Meanwhile, oil prices surged above $120 per barrel due to the Iran conflict, intensifying inflation concerns.