Finance

The benchmark 10-year Treasury yield offered a brief respite to equities by slipping back toward the 5.2% level after a massive mid-week bond market selloff. Despite this cooling phase, borrowing costs continue to hover near their highest markers since 2007, squeezing consumer credit markets.

Digital assets showed resilience as Bitcoin and Ethereum stabilized to lock in weekly gains of nearly 10%. Analysts point to a long-term bullish trend change across the asset class, with major crypto tokens continuing to trade well above their 365-day moving averages.

The final September reading from the University of Michigan's monthly survey ticked down to 48.1, demonstrating the negative impact of persistent inflation. Consumers expressed mounting concerns over long-term price stabilities, heavily driven by national average gasoline costs holding above four dollars a gallon.