Finance

Bond yields hovered near significant technical peaks following the Federal Reserve's decision to implement its first benchmark interest rate hike in three years. The 10-year Treasury yield neared the 5% threshold, while the policy-sensitive 2-year Treasury yield surged to 4.741%, marking its highest closing level since July 2024 as market participants price in the likelihood of additional rate increases.

Cryptocurrency markets demonstrated resilience as Bitcoin rallied back above $81,000, achieving a notable weekly gain. Digital asset investors appeared to look past recent regulatory hurdles, including the Senate's failure to advance the Transparency Act, as well as the broader macroeconomic headwinds of rising interest rates.

Global oil benchmarks declined for a third consecutive trading session as immediate worries over Saudi Arabian supply distribution began to moderate. Despite the recent pullback, Brent crude remained high above $103 a barrel and West Texas Intermediate sat near $101, sustained by ongoing geopolitical risks and the expanding conflict in the Middle East.