South Africa’s 10 year government bond yield rose to around 8.12%, the highest since January 23, as the eruption of the conflict in the Middle East raised economic uncertainty and stoked inflation worries globally. Disruptions to oil flows from the Persian Gulf are expected to push petrol and diesel prices higher, potentially fueling inflation in South Africa and lowering the chances of Reserve Bank rate cuts. The country has experienced a record surge in foreign capital in recent months, fueled by global investors shifting funds from the dollar into higher-yielding nations, alongside positive domestic developments.