Finance

Fixed-income markets experienced sharp movements as long-dated U.S. Treasury yields surged to heights not seen in over two decades. The 30-year Treasury yield advanced to 5.62%, registering its highest level since 2002, while the benchmark 10-year yield scaled near 5.3%. Shorter-term bonds found some relief following comments from New York Fed President John Williams suggesting that the central bank might not need to rush subsequent interest rate increases.

Energy prices fell as indications of improving export volumes from major Middle Eastern suppliers helped mitigate immediate supply anxieties. Data revealing that regional daily shipments reached their highest point since February, combined with Saudi Arabia resuming operations at its Yanbu port, pushed Brent crude prices back toward $100 per barrel. Investor nerves were also calmed by reports that indirect diplomatic talks involving domestic and Iranian representatives had taken place.

Investor enthusiasm surrounding artificial intelligence dealmaking was balanced by fresh operational and transparency questions. Market participants analyzed a leaked initial public offering prospectus from AI startup Anthropic, which detailed a multi-trillion dollar valuation alongside warnings of catastrophic sector risks. Simultaneously, news that OpenAI delayed its next-generation model release due to ongoing safety concerns added a layer of caution to technology evaluations.