Global financial markets are currently witnessing a stark divergence between surging bond yields and resilient equity performance. US bond yields have climbed significantly, with the 30-year Treasury yield hitting 5.2 per cent, its highest since 2007, and the 10-year yield reaching 4.7 per cent. This global trend extends to Japan’s 10-year government yield pushing to a 30-year high of 2.8 per cent, and Australia’s 10-year yield ticking up to a new 15-year high of 5.07 per cent. These movements stem from escalating concerns over ballooning government debt, rising populism, and an inflationary wave exacerbated by the Iran energy crisis. [...]