Borrowing costs are surging amid Iran war

Data: Federal Reserve; Chart: Neil Irwin/AxiosThe Iran war is sending longer-term borrowing costs surging amid prospects for higher inflation, fewer Federal Reserve rate cuts and more federal borrowing.Why it matters: Higher rates create new pressure for an already-faltering housing sector, make the U.S. government’s fiscal challenges worse and could weigh on business investment and consumers alike.It contrasts with past geopolitical tumult…
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