Finance

Yields on the benchmark 10-year Treasury note climbed toward 4.54% following May's consumer price index release, which showed a year-over-year increase of 4.2%. Although the inflation data was in line with analyst expectations, bond traders remained wary of potential future interest rate hikes from the Federal Reserve to combat sticky services and energy prices.

Oil futures gained roughly 1% as fresh U.S. military strikes against targets in the Middle East fueled fears of prolonged disruptions in the Strait of Hormuz. Brent crude surpassed $92 per barrel while West Texas Intermediate neared $90, further supported by EIA data showing that U.S. commercial crude inventories fell for a seventh consecutive week.

The digital asset market faced broad declines, with Bitcoin dropping over 2% to trade near $61,000, its lowest level since late 2024. Ethereum and other major altcoins also saw sharp pullbacks as geopolitical uncertainty and outflows from spot ETFs dampened investor appetite for riskier assets.