Finance

Cryptocurrencies recorded substantial gains, with Bitcoin experiencing its strongest weekly performance in over two years and surging past the $77,000 threshold. The rally was heavily supported by the U.S. Treasury's expanded long-term bond buyback program, which injected fresh liquidity into the financial system. Risk appetite was further elevated following a White House meeting where political leadership urged lawmakers to fast-track digital asset regulations.

Government bond yields maintained their momentum near decade highs as market participants thoroughly evaluated the Treasury's fiscal strategies. Short-dated notes notably led the upward push, reflecting an increase in investor expectations regarding potential interest rate hikes from the Federal Reserve later in the year. Treasury Secretary Scott Bessent highlighted the administration's broad capabilities to handle these borrowing costs while hinting at upcoming steps toward fiscal consolidation.

Shares of the major retail bellwether tumbled over 9% in recent trading after reporting weaker-than-expected financial metrics. The company posted its softest comparable domestic sales increase in several years, citing notable impacts from elevated fuel costs on customer purchasing behavior. This corporate miss weighed heavily on the broader consumer staples sector, compounding macroeconomic anxieties earlier in the week.