Global Market Today: Asian stocks, bonds fall on oil, inflation concern

Following a notable rise in oil prices, Asian stocks and bonds faced a downturn, signaling a shift in market sentiment.

The latest inflation data has fueled speculation about a soon-to-come interest rate hike from the Federal Reserve. Treasury yields hit multiyear highs, placing additional strain on bonds.

Furthermore, quicker-than-expected increases in producer prices are adding weight to anticipations for the Fed.