News Summary

• US bond yields have surged upward over the past month.
• Investors have attributed the run-up in yields to a variety of concerns.
• One overlooked source of upward pressure is the impact of the Iran war on the energy market.
• President Trump has said he expects the war to wrap up shortly after the US midterms.
• But the president has also said he's considering a major renewed bombing campaign after the elections, which would likely push the conflict back into "hot war" territory and reignite tensions.