Finance

The 10-year Treasury yield rose to 4.49% as investors reacted to rising inflation risks and geopolitical volatility. Simultaneously, oil prices have spiked due to the threat of renewed closures of the Strait of Hormuz, with Brent crude futures nearing $98 a barrel.

New York Fed President John Williams stated that monetary policy is currently in the right place, though he sees no obvious direction for future interest rate moves. Other officials, including Dallas Fed President Lorie Logan, expressed concern that stubbornly high inflation and AI-driven demand might necessitate higher interest rates later in 2026.

The cryptocurrency market faced significant distress as Bitcoin's price dropped toward $61,000, its lowest level in four months. This sudden downturn triggered over $1.1 billion in liquidations within 24 hours, primarily affecting long positions as risk appetite dampened across digital assets.