Finance

A sharp, historic downturn in the global bond market paused late in the week, offering relief to broader equity valuations. The 10-year U.S. Treasury yield receded to 5.18% after flirting with multi-decade highs near 5.23%, as investors reacted to potential negotiation breakthroughs between Washington and Tehran.

Global crude benchmarks retreated amid reports that American and Iranian officials are discussing a phased arrangement to restore shipping access. West Texas Intermediate fell over 2% to hover near $92 a barrel, while Brent crude dropped back below the $98 threshold, defusing immediate supply anxieties.

The University of Michigan's final September survey revealed that American consumer sentiment dropped to its lowest point in four months. Although the final print of 48.1 was a slight upward revision from the preliminary data, persistent high prices at the pump continue to dampen economic optimism.