Borrowing costs in several advanced economies rose to their highest levels since the 2008 financial crisis or earlier, as investors worried the Middle East conflict could keep inflation elevated, The Guardian reported Monday.

The report said 30-year French bond yields reached 4.8558%, their highest since September 2008, while 10-year French yields rose to their highest since June 2009. German 10-year yields also reached their highest since 2011, according to the report.

The Guardian said concerns over inflation and government spending were pushing up yields as investors anticipated higher interest rates. Money markets indicated an almost 85% chance of an ECB rate hike in September, the report said.