US inflation came in hotter than expected in April, causing US treasury yields to rise above 3% amid growing fears of the threat of stagflation — when GDP grows at a slower rate while inflation accelerates.

The higher-than-expected US inflation figures have seen calls for even more aggressive action from the US Federal Reserve (Fed), which recently raised its lending rate by 50 basis points to a range of 0.75% to 1%, its biggest increase in more than two decades...