Finance

The bond market saw a brief pause in its global selloff, with the U.S. 10-year Treasury yield closing at roughly 5.17% after briefly touching 5.22%. Yields temporarily cooled as international crude benchmarks dropped back below structural resistance levels, alleviate immediate fears regarding runaway, energy-driven inflation.

West Texas Intermediate and Brent crude futures experienced notable declines, retreating by approximately 2% near the end of the week. The downturn in energy pricing was primarily fueled by emerging reports that American and Iranian negotiators in New York are actively discussing a phased agreement to secure and reopen the critical maritime transit waterway.

The final consumer sentiment reading from the University of Michigan edged slightly higher than initial estimates but overall reflected a second consecutive month of deterioration. The metric highlighted building anxieties as household short-term inflation expectations surged upward to a 4.6% annualized rate.