Key facts
- Treasury yields hit multi-year highs.
- Asian shares slumped on Friday.
- Soaring oil prices are inflaming inflation risks.
- Investors are pricing in more policy tightening from central banks globally.
Treasury yields surged to multi-year highs and Asian shares slumped on Friday as soaring oil prices inflamed inflation risks. The market is reacting to the geopolitical situation and the subsequent rise in energy costs, leading investors to anticipate further monetary tightening from central banks worldwide.