Global bond markets declined as rising oil prices and escalating conflict in the Middle East renewed concerns that inflation could remain persistently high.

Investors worry that sustained price pressures may force central banks to keep interest rates elevated for a longer period than previously expected. The uncertainty has added volatility to financial markets and weighed on investor sentiment.

Ron Sanchez, Chief Investment Officer at Fiduciary Trust International, shared his perspective on the likely direction of interest rates, noting that policymakers may remain cautious as they assess inflation risks and geopolitical developments.