The Economic Straitjacket on Iran: A Currency Conundrum The recent threat by US Treasury Secretary Scott Bessent to impose further economic sanctions on Iran has sent ripples through the financial markets.
This warning, while not new in the ongoing saga of US Iranian tensions, has sparked a significant shift in the bond market.
Yields on long term US Treasury notes have risen in anticipation of an extended blockade of Iranian ports. The contrast between this development and global inflation data is striking.