Global bond sell-off resumes as surging oil prices stoke fears about inflation

Crude jumps above $107 a barrel amid concerns over Middle East conflict and out-of-control government borrowing

Nervous investors across big economies have been dumping government bonds, driving up the cost of borrowing, as surging oil prices amplified fears about rising inflation.

The cost of a barrel of oil jumped 6% to above $107 on Thursday amid concerns that advances by Houthi rebels along the Red Sea coast in Yemen could choke off Saudi crude exports.