Finance

The yield on the 10-year U.S. Treasury note eased to around 5.18% after spiking close to 5.23%, a level near its highest mark since 2007. The minor relief in fixed-income markets came as investors tracked diplomatic discussions in New York regarding the potential reopening of the Strait of Hormuz. Despite the late-week softening, overall yields remain significantly higher, keeping pressure on growth stock valuations.

Strong quarterly performance reports from major U.S. corporations continue to prop up equity valuations. Notably, Costco Wholesale shares gained nearly 3% following a stronger-than-expected quarterly profit report. Analysts note that these positive bottom-line results have successfully offset broader macroeconomic anxieties concerning sticky energy prices and restrictive monetary policy.

Digital assets demonstrated resilience as Bitcoin maintained its position around the $84,000 threshold despite a major security incident involving a $351.6 million wallet breach at Bitget. Although the derivatives market experienced heavy liquidations totaling around $400 million, spot prices for both Bitcoin and Ethereum stayed stable. Capital inflows into spot Bitcoin ETFs remained robust, helping to counter immediate downside pressure from the hack.