US strikes on Iran on 30 August and 1 September pushed Brent above $95 a barrel, adding inflation pressure. Government bond yields rose in the US, Japan, UK, Germany and France, with the US 10-year at about 4.79%, its highest in 20 months. For a Thai SME this is background: higher global yields can feed into borrowing costs and the baht over time, and oil price swings affect fuel and transport costs. No immediate action is needed, but keep an eye on fuel prices and loan rates this quarter.