Finance

U.S. bond yields extended their recent climb to conclude the week, with the 30-year Treasury yield reaching a notable 19-year high. Market participants are increasingly concerned that the Federal Reserve will sustain higher interest rates to combat persistent inflationary pressures exacerbated by geopolitical tensions.

Despite the broader equity market stabilization at the end of the week, chipmaking equities experienced a severe downturn throughout July. The VanEck Semiconductor ETF closed out the period down nearly 17%, marking its poorest monthly performance in 18 years as investors re-evaluated high valuations and AI infrastructure spending.

Goldman Sachs reported record-breaking equities trading revenues alongside a 55% jump in investment banking revenue. The Wall Street giant benefited heavily from underwriting major corporate events, including Alphabet's massive $85 billion equity raise and SpaceX's recent initial public offering and large bond sale.