Borrowing costs are surging amid Iran war
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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, when money frequently flowed into Treasury securities
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