Oil trades above $107 per barrel after Trump says no need to reopen Strait of Hormuz

Stocks fell on Friday with bonds as rising oil prices deepened concern about inflation and as investors questioned the longevity of the artificial intelligence trade.

Oil trades above $107 per barrel after Trump says no need to reopen Strait of Hormuz. Stocks fell on Friday with bonds as rising oil prices deepened concern about inflation and as investors questioned the longevity of the artificial intelligence trade. MSCI’s Asian share index dropped 1.2 per cent, while US equity-index futures slipped 0.3 per cent on speculation energy costs will stay elevated for longer. European shares were set to drop 1 per cent at the start, while the dollar, the haven of choice since the Middle East war broke out in late February, rose for a fifth day. The inflation concerns weighed on government bonds, with the Treasury two-year yield climbing three basis points to 4.05 per cent and the 10-year yield adding the same amount to 4.51 per cent. Japan’s 10-year yield jumped as much as seven basis points after data showe...