Finance

U.S. government bond yields remained elevated, with the 30-year Treasury yield closing at 5.276% and the 10-year yield hovering near 4.74%. Borrowing costs remained sticky despite Treasury Secretary Scott Bessent's announcement to double planned buybacks of long-dated government debt. The administration's efforts aimed to curb soaring yields driven by fiscal concerns and massive corporate debt issuance.

Bitcoin climbed significantly over the week, breaking past the $77,000 threshold and logging its best weekly performance in over two years with a gain of roughly 22%. The cryptocurrency rally was fueled by the Treasury's bond buyback expansion, which injected liquidity into the financial system, alongside positive regulatory sentiment stemming from a White House push for crypto-friendly legislation. This upward momentum triggered heavy short liquidations and boosted crypto-linked equities like Coinbase and Robinhood.

Spot gold prices surged to finish near $4,690 per ounce, marking a strong weekly increase from previous levels below $4,440. The precious metal is pacing toward its strongest monthly performance since 1999 as mounting concerns over sovereign U.S. debt and a weakening greenback prompt investors to seek alternative store-of-value assets. The weakened dollar, influenced by shifting Treasury strategies, concurrently lifted major mining stocks.