FT: A global bond rout deepened on Thursday as oil jumped back above $105 a barrel, adding to inflation fears after the US Treasury market suffered its biggest fall since last year’s trade war sell-off.

Ten-year US Treasury yields rose as high as 5.15% on Thursday, up 0.03 percentage points to their highest level since 2007, before easing back to 5.12%. It followed a 0.15 percentage point jump on Wednesday as rising crude prices and strong economic data triggered bets on faster interest rate rises by the Federal Reserve. Bond yields rise as prices fall.