Demand for longer-term U.S. debt gets weaker as one shock after another stokes fear that high inflation is here to stay
Global bonds sold off sharply on Friday as investors grappled with persistently higher inflation amid the ongoing energy crisis. Oil prices rose after the U.S.-China summit, but there was no sign that Beijing would rely on ally Iran to reopen the Strait of Hormuz. A series of U.S. debt auctions last week showed tepid demand…