Finance

Sovereign debt markets faced renewed selling pressure, sending key benchmark yields upward. The 10-year Treasury note yield rose to roughly 5.33%, remaining at levels not seen since 2002, while the 30-year bond yield traded near 24-year highs at 5.70%. The move follows hawkish rhetoric from Federal Reserve officials signaling that more interest rate hikes may be necessary to tame inflation.

Crude oil futures surged roughly 4% to 5% on Thursday as geopolitical risks escalated. Brent crude jumped past $104 per barrel and West Texas Intermediate rose to approximately $92 per barrel. The latest price spike was fueled by aggressive rhetoric surrounding conflict in the Middle East and concerns over regional supply stability.

The cryptocurrency market mirrored the downturn in traditional risk assets, with Bitcoin falling beneath its crucial $84,000 support level. The premier digital asset slipped roughly 1.5% over a 24-hour window to trade near $82,969. Analysts noted that the broader crypto sector faced heavy headwinds from the stronger U.S. dollar, rising bond yields, and climbing energy prices.