Finance

In his first major international appearance since taking office, Federal Reserve Chairman Kevin Warsh indicated that inflation risks have decreased in recent weeks. Speaking at a central bank forum in Portugal, Warsh emphasized a commitment to price stability while suggesting the Fed might remain in a policy pause, though he notably avoided definitive answers regarding a potential interest rate hike at the upcoming July meeting.

U.S. Treasury yields rose on Wednesday as investors processed mixed economic signals, including a report that U.S. manufacturing continued to expand, albeit at a slightly slower pace than economists expected. The benchmark 10-year yield climbed toward 4.46% while the two-year yield rose to approximately 4.17%, reflecting shifting expectations for the Federal Reserve's interest rate path ahead of the critical June nonfarm payrolls report.

The cryptocurrency market opened July 2026 under significant pressure, with Bitcoin trading near $58,300—its lowest level in over 21 months. Analysts observe a growing trend where institutional operators are moving away from pure-play crypto mining to repurpose energy infrastructure for high-margin artificial intelligence and high-performance computing data centers, contributing to persistent outflows from spot ETFs.