Finance

Long-term U.S. government bond yields remained elevated as market participants weighed stubbornly high inflation against the Federal Reserve's cautious monetary policy stance. Concerns that the central bank is falling behind in its fight against inflation have pushed the 30-year Treasury yield toward levels not seen since 2007.

The domestic economy cooled more than anticipated, with annualized Gross Domestic Product expanding at a modest rate of 1.5% for the second quarter. The slowdown from the prior quarter was largely driven by an acceleration in imports, reflecting massive capital outlays on computing equipment to fuel the tech sector's infrastructure boom.

Crude oil benchmarks experienced upward momentum following military escalations and threats of retaliation in the Middle East. Supply disruptions in key regional choke points have intensified market anxiety, intermittently pushing Brent crude past milestones and complicating the macroeconomic outlook.