Finance

The bond market continues to experience a major selloff as the 10-year Treasury yield surged to levels not seen since 2007, and the 30-year yield reached a high since 2004. Investors remain highly sensitive to resilient economic data, such as a drop in initial jobless claims, which reinforces expectations that the Federal Reserve may implement further interest rate hikes. Market participants are closely watching upcoming economic data to gauge the central bank's next moves.

Akamai Technologies saw its stock price climb significantly after announcing an $11.6 billion, seven-year computing agreement with artificial intelligence firm Anthropic. The deal represents the largest contract in Akamai's history and will heavily scale up the company's capital spending commitments over the coming years. Major Wall Street analysts responded favorably to the news by raising their price targets on the technology firm.

Bitcoin and Ethereum held onto notable weekly gains despite experiencing minor pullbacks from their recent local highs. The digital asset ecosystem processed nearly $400 million in leveraged position liquidations, highlighting a highly sensitive derivatives market. While spot price volatility remained contained, institutional participation persisted with significant net inflows into spot Bitcoin ETFs.