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Global Borrowing Costs Rise On Oil And Inflation Fears. Long-term borrowing costs across some of the world's biggest economies have reached fresh highs amid concerns over inflation, government debt and rising investment in artificial intelligence. Thirty-year US borrowing costs climbed to their highest level since 2007 while UK government bond yields also rose sharply, with similar increases in Germany and Japan. The latest surge has been driven largely by rising oil prices, as investors fear higher energy costs could push inflation back up and force central banks to raise interest rates. Brent crude climbed above 90 dollars a barrel as tensions in the Middle East intensified. Higher government bond yields can ultimately feed through to consumers, increasing borrowing costs on mortgages, car loans and credit cards.
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