Finance

Treasury Secretary Scott Bessent announced that the government plans to at least double its long-term Treasury buyback operations to over $4 billion per session in an effort to provide liquidity and manage borrowing costs. However, bond yields quickly resumed their upward march as investors remain skeptical of the long-term impact against persistent multi-trillion dollar deficits. The 10-year Treasury yield advanced to 4.74%, hitting its highest mark of the year.

Bitcoin rallied significantly to trade over $77,000, driven by market liquidity expectations and political momentum. The digital asset benefited from the Treasury Department's bond buyback announcement alongside fresh support from President Donald Trump urging legislative action on crypto-friendly regulations. The rapid price surge past technical overhead levels triggered massive short liquidations on major exchanges, pushing its weekly gain near 20%.

Brent crude futures settled above $93 per barrel, marking a sixth consecutive day of gains amid intensifying conflict in the Middle East. Tensions flared after Iran seized a tanker linked to the United Arab Emirates in the Strait of Hormuz, prompting President Donald Trump to issue threats of unprecedented economic warfare against Tehran. Analysts note that the expiration of a 60-day memorandum of understanding without extension has embedded a structural geopolitical risk premium back into the energy markets.