Iran Strikes U.S. Forces in Jordan; UK 10-Year Gilt Yield Rises to 4.969% on July 29

According to Jin10 data, on July 29, Iran launched a missile strike on U.S. forces stationed in Jordan, prompting the U.S. and Saudi forces to conduct counterattacks on Iran-backed armed groups in Iraq. The escalation drove up oil prices and intensified inflation concerns.

As a result, UK 10-year government bond yields rose 1.2 basis points to 4.969%, according to Tradeweb data. Investors are awaiting the Federal Reserve's interest rate decision later today and the Bank of England's rate decision on Thursday.