Finance

The yield on the 10-year U.S. Treasury note continued to hold close to its highest mark since 2002, hovering around 5.31%. Investors are keeping a close watch on bonds as stubborn inflationary indicators and monetary policy directions maintain upward pressure on borrowing costs. Market expectations for an October interest rate hike dropped significantly following last week's softer payroll figures, but a year-end hike remains highly anticipated.

Global oil benchmarks experienced volatile trading as the ongoing war with Iran creates continuous uncertainty over global supply lines. Brent crude dipped roughly 1.9% to settle at $100.32 per barrel, pulled down slightly after Europe agreed to tap diesel reserves and exports elsewhere saw small increases. Despite the marginal daily drop, energy costs remain severely elevated and continue to pose underlying risks to broader economic growth.

The cryptocurrency sector experienced a strong wave of momentum, with digital asset funds drawing in $3.55 billion in a single week. Bitcoin hovered near the $86,000 to $87,000 range, showcasing solid short-term recovery even though it remains below its prior year-over-year record highs. Digital asset traders are currently focusing on upcoming Federal Reserve meeting minutes and new regulatory rules proposed by the U.S. commodities regulator.