Finance

Following the softer economic data, market participants adjusted expectations, forecasting a significantly lower probability of a Federal Reserve rate increase later in the month. This shift sparked an initial drop in benchmark Treasury yields, with the 10-year yield hovering near 5.16% before retracing some losses.

Crude oil benchmarks displayed mixed movements after G-7 and European nations agreed to release 100 million barrels of emergency stockpiles to cool international energy prices. Concurrently, gold and other precious metals stabilized above key thresholds late in the week, finding temporary relief from lower bond yields despite recording overall weekly losses.

Bitcoin stabilized in the mid-$84,000 range following a broader economic data-driven recovery across asset classes. Positive market sentiment was additionally supported by major banking institutions upwardly revising their long-term price targets for the leading digital asset.