Finance

Government bond yields spiked significantly, with the 30-year Treasury yield hitting 5.127%, its highest level since 2007. The benchmark 10-year note also rose to approximately 4.6% as April's Producer Price Index showed a 6% year-over-year increase, leading traders to abandon expectations for imminent interest rate cuts.

The energy sector was the sole outperformer among the S&P 500's major groups, rising 2.32% as Brent crude oil approached $109 per barrel. Conversely, the materials and utilities sectors faced sharp declines as rising bond yields reduced the attractiveness of high-dividend defensive stocks and higher costs weighed on commodities.

Bitcoin and Ethereum saw price declines during the week ending May 15, 2026, with Bitcoin retreating toward the $80,000 level. Despite legislative progress with the Clarity Act, digital assets remained under pressure from rising bond yields and investor caution regarding the Federal Reserve leadership transition to Kevin Warsh.