0924 GMT - The selling pressure across global bond markets has been driven by common factors, The Investment Institute by UniCredit's Francesco Maria Di Bella says in a note. These include the inflation shock due to the war in the Middle East, still-resilient economic data and abundant supply coming from public and private investment, the fixed-income strategist says. Bond valuations have also been affected by more idiosyncratic factors, such as substantial fiscal expansion expected in Japan and fiscal risks in the U.K., he says.