Finance

Longer-dated U.S. government bond yields resumed their upward march, with the 30-year Treasury yield closing near multi-decade highs at 5.276%. The ascent persists despite Treasury Secretary Scott Bessent expanding the long-term debt repurchase program to $4 billion per operation, as market participants remain deeply concerned over mounting inflation and the national debt surpassing $40 trillion.

Cryptocurrencies extended a sharp rally, with Bitcoin jumping roughly 6% to cross above the $77,000 threshold and log its strongest weekly performance in over two years. The digital asset market was heavily catalyzed by liquidity injections from the Treasury's bond buyback expansion alongside positive political developments, including the executive branch urging the advancement of the Clarity Act.

Precious metals experienced a substantial surge, with front-month gold futures settling higher by more than $240 to finish the week at $4,624.10 per troy ounce. Driven by a weakening U.S. dollar and intensifying worries surrounding America's long-term fiscal stability, the asset is currently pacing toward its most significant monthly gain since 1999.