- The Guardian reports that markets slid after a global bond sell-off tied to renewed inflation fears.
- Australia's borrowing costs reached a 15-year high, while India's 10-year bond yield topped 7% during the debt sell-off.
- Brent crude rose to $97, adding to inflation pressure as the IMF chief flagged higher global interest rates as a particular concern.
- UK long-term borrowing costs threaten to reduce the chancellor's budget headroom sharply.