Finance

Yields on the 30-year U.S. Treasury bond rose to 5.18%, marking the highest rate for the long-dated debt in nearly two decades. Investors are demanding a higher premium for longer-term securities as persistent inflation concerns, exacerbated by energy price volatility, reduce expectations for near-term Federal Reserve rate cuts.

Crude oil prices hovered above $100 per barrel as the global market reacted to news that a planned strike on Iran was postponed due to diplomatic requests from Gulf allies. Despite a slight intraday dip, supply concerns remain high with the Strait of Hormuz effectively closed, impacting global distribution.

The home improvement giant reported first-quarter earnings that exceeded analyst expectations, driven by the resilience of professional contractors and core homeowners. Although consumer confidence has dipped due to high gas prices, the company reaffirmed its full-year guidance despite customers deferring larger, more expensive projects.