Global Market Rout Hits Asia as US-Iran Strikes Fuel Bond Panic, While Singapore's Growth Outlook Brightens

Asian markets slumped today as a global bond sell-off intensified following renewed US airstrikes on Iran, pushing oil to five-week highs and rattling investors worldwide. Singapore's benchmark index felt the chill as regional stocks followed Wall Street lower, with South Korea's KOSPI dropping 3% and Japan's Nikkei sinking 2.2%. The yield on the 10-year US Treasury climbed to a near three-year high of 4.81%, stoking fears that...