Finance

U.S. Treasuries faced renewed selling pressure, driving the 30-year bond yield to 5.70% and the 10-year note yield as high as 5.36%, marking their highest levels since 2002. Although a solid $39 billion auction of 10-year notes met with strong demand and slightly cooled the intraday surge, yields stayed elevated. The market remains highly sensitive to borrowing costs as investors await further central bank guidance.

Brent crude climbed back above the psychologically significant $100-a-barrel threshold, gaining more than 1% to trade near $101.69 per barrel. Energy markets are contending with heightened geopolitical risks, including regional attacks on shipping vessels in the Strait of Hormuz, alongside production disruptions from an impending storm heading toward U.S. oil-producing hubs.

Wall Street is heavily focused on the release of the Federal Open Market Committee's September meeting minutes. Market participants are analyzing the text for indications of internal policy disagreements regarding the recent interest rate hike. The insights could adjust current projections for another potential rate increase from the central bank later in the month.