Finance

The yield on the benchmark 10-year U.S. Treasury note rose to 4.46% following data showing job openings increased to 7.59 million in May, exceeding economist forecasts. This resilience in the labor market has reinforced expectations that the Federal Reserve may maintain a hawkish stance for the remainder of the year. Investors are now closely monitoring upcoming payroll reports to gauge the potential for a rate hike as early as September.

Gold futures for August delivery fell to near $3,979 per ounce, capping a quarter that saw bullion's largest price drop since 2013. The decline is attributed to rising real interest rates and a strengthening U.S. dollar, which increase the opportunity cost of holding non-yielding assets. Market sentiment remains pressured by persistent inflation concerns and fading hopes for a swift permanent resolution to regional geopolitical tensions.

Brent crude oil prices hovered near $73 per barrel on July 1, reflecting a 20% decline over the past month as the risk premium associated with the U.S.-Israel war on Iran begins to fade. While supply flows through the Strait of Hormuz remain constrained, ongoing peace talks in Qatar have encouraged traders to give diplomatic efforts the benefit of the doubt. Analysts suggest that unless hostilities resume, oil prices may continue to face downward pressure as global supply gradually returns.