Finance

Sovereign bond yields continued to experience dramatic swings, with the benchmark 10-year Treasury yield trading near 5.20%, its highest point since 2007. Concurrently, the 30-year yield pushed up to around 5.517%, matching levels not seen since 2004. Traders attribute the persistent yield surge to a robust domestic economy, firm business activity readings, and hawkish signals from central bankers.

West Texas Intermediate futures dropped roughly 2% to touch $92 per barrel, while international benchmark Brent crude dipped to around $104 per barrel. Energy prices receded from their recent multi-month highs following indications that the United States and Iran are in preliminary discussions regarding the phased reopening of the strategically critical Strait of Hormuz. This geopolitical progress countered previous fears of deeper and wider energy supply disruptions.

Information technology shares topped the S&P 500 sector performance leaderboard, driven significantly by a 12% weekly spike in Meta Platforms linked to its new artificial intelligence agent, Muse. Furthermore, sentiment in the tech ecosystem was bolstered by Akamai Technologies advancing 5% on a multiyear collaboration with Anthropic. These gains highlighted that structural AI expenditures continue to heavily safeguard megacap technology valuations against broader policy uncertainties.