“Bonds are clearly below strain, with lengthy finish yields up 25-30 foundation factors final week throughout the U.S., Australia, U.Okay. and Europe,” stated Andrew Ticehurst, a charges strategist at Nomura Inc. in Sydney. “The Russia/Ukraine battle provides to world uncertainty and could have some affect on progress, however with inflation already uncomfortably excessive in lots of international locations, central banks will probably be pressured to reply to heightened inflation pressures.”