[Reuters] – Brent crude futures surged to a 16-month high on Thursday on the heels of OPEC’s agreement a day earlier to cut output, while Treasury yields continued to climb following the weakest monthly performance for global bonds in almost 13 years. The benchmark 10-year U.S. Treasury yield jumped to its highest since July 2015 to start the month, after Bank of America Merrill Lynch’s Global Broad Market Index fell 1.76 percent in November. Bets on faster inflation in the United States, on the back of higher oil prices and the expected policies of the incoming Trump administration, have sent Treasury yields soaring.
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