Bond yields jump, oil extends gains as US-Iran ceasefire expires

On Tuesday in Singapore, bond yields climbed to their highest levels in decades following the expiration of the US-Iran ceasefire. Alongside the rising bond yields, oil prices extended their gains for a third consecutive day.

Financial markets reacted to these developments as regional equities reversed their earlier gains. MSCI's broadest index of Asia-Pacific shares outside Japan slid by 0.3%, weighed down specifically by benchmark stocks in Taiwan and China.