Finance

The 30-year Treasury bond yield reached 5.62%, its highest intraday level since 2002, while the benchmark 10-year note climbed toward 5.29%. Although shorter-term maturities like the 2-year yield saw minor relief following remarks from New York Fed President John Williams that the central bank doesn't need to rush further interest rate hikes, heavy issuance and structural inflation continue to pressure the long end of the curve.

The latest Job Openings and Labor Turnover Survey revealed that US job openings fell slightly to 7.1 million for the month of August. This reduction indicates that the labor market is moving into a more sustainable equilibrium, mirroring the approximate number of unemployed workers. Market participants are closely watching this stability alongside upcoming nonfarm payrolls to gauge the Federal Reserve's next policy moves.

The cryptocurrency market has shown unexpected resilience, maintaining its position above the $80,000 threshold despite recent regulatory headwinds. Digital assets rebounded after suffering minor setbacks earlier in the month when the U.S. Senate failed to advance the Clarity Act and the Federal Reserve implemented a 25 basis point rate hike. Analysts suggest that macroeconomic factors like fiscal deficits are providing structural support for digital currencies.