Finance

A historic selloff in the global fixed-income market paused toward the end of the week, helping broader market sentiment to stabilize. Despite the temporary reprieve, sovereign debt yields finished significantly elevated, with the 10-year Treasury yield closing at a 19-year high. These elevated borrowing costs continue to place pressure on the domestic economy and highly valued sectors like technology.

Crude oil benchmarks West Texas Intermediate and Brent both recorded notable declines to settle lower on Friday. The downward momentum followed emerging reports that negotiators from the United States and Iran are engaged in discussions regarding a phased agreement. Market participants are optimistic that a deal could safely reopen the strategically critical Strait of Hormuz within the coming days.

Gold prices fluctuated around the $4,300 per ounce range, registering a decline of over two percent for the week. The safe-haven metal has faced sustained pressure from a firming U.S. dollar, which reached a two-month peak, and historically elevated Treasury yields. Furthermore, market expectations indicating an approximate 70% chance of a Federal Reserve interest rate hike in October continue to weigh on non-yielding assets.