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Iran war shifts bond market, revives rate hike talks, and triggers gold's worst week since 1983

Market News
22 Mar 2026
Benzinga
View Source
Bearish
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The ongoing Iran war has caused a major shift in financial markets, leading to renewed expectations of interest rate hikes by year-end, reversing earlier predictions of cuts. This geopolitical tension also sparked outrage after a White House advisor downplayed its economic impact amid rising gas prices. Meanwhile, gold suffered its worst weekly drop since 1983, driven by market weakness and war-related uncertainty. The Trump administration's temporary Jones Act waiver is seen as a short-term fix amid rising fuel and fertilizer costs, while rumors of oil market intervention were denied by a Treasury official.

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