[Bond Strategists Warn: Yields Likely to Remain Elevated Even if Iran War Ends] Deep Tide TechFlow reports, on May 24, despite widespread concerns about inflation triggered by the war, there are signs that other factors are also influencing long-term borrowing costs. In the United States, the so-called 'real yields'—adjusted for inflation—are having a greater impact, indicating that bond investors are worried about more than just price pressures stemming from the Iran war. Other driving forces include: the already massive public debt burden potentially expanding further, the impact of the artificial intelligence investment boom, and the increasing likelihood of central banks like the Federal Reserve raising interest rates rather than cutting them. Strategists from ING, Goldman Sachs, and Barclays have all emphasized a common speculation: the recent rise in some long-term yields may not fully reverse even if inflation driven by rising oil prices subsides. This suggests that, even if the conflict ends, market borrowing costs may remain near multi-year highs, continuing to exert pressure on governments and the economy.