Finance

A selloff in the bond market has driven yields sharply upward, capturing the attention of investors across financial markets. The 2-year Treasury yield surged to 4.741%, marking its highest level since July 2024, while the benchmark 10-year Treasury yield hovered closely near the critical 5% threshold as participants adjust to a prolonged higher borrowing rate environment.

Digital assets showed resilience as Bitcoin recovered to surpass the $80,000 threshold and Ethereum achieved notable gains. The positive momentum came even as the industry absorbed a political setback following the failure of the long-awaited Clarity Act to clear the U.S. Senate, indicating that the legislative defeat and the Fed's policy tightening were already anticipated by traders.

An era has come to an end on Wall Street as Warren Buffett announced his decision to transition from chairman to chairman emeritus of Berkshire Hathaway. While he will maintain his position on the board to advise the multi-billion-dollar conglomerate, his son Howard Buffett is designated to assume the role of chairman.