0723 GMT - Bitcoin falls following declines in U.S. stocks overnight as a selloff in global government bonds and Middle East tensions weighed. Global bonds yields surged on Tuesday, reflecting inflation concerns and deficit fears. "Higher yields remain our main worry for the market," Jefferies economist Mohit Kumar says in a note. Inflationary pressures are likely not just from oil prices but also food prices due to droughts, which are external shocks that won't be offset by higher interest rates, he says. There is also no easy way out of the U.S.-Iran conflict, he says. President Trump said no talks with Iran are underway or scheduled after a U.S.-Iran ceasefire expired Monday. Bitcoin drops 0.4% to $64,306, LSEG data show.