Finance

U.S. government bond yields retreated across the curve, following a parallel multi-day decline in oil prices. Benchmark 10-year Treasury yields fell back below the 5% threshold as domestic and global crude benchmarks recorded consecutive sessions of losses.

Market participants are adapting to an increasingly hawkish outlook from the Federal Reserve following its recent quarter-percentage-point interest rate increase. Central bank projections and fed funds futures indicate an elevated probability of additional rate hikes before the end of the year to control persistent inflation.

Digital assets experienced a significant upward move, with Bitcoin climbing past the $85,000 threshold to reach its highest level since January. The crypto market effectively brushed off the failure of the Clarity Act in the U.S. Senate as participants pivot toward alternative regulatory avenues.