Finance

Long-dated U.S. Treasury yields held near decade-high levels to end the week, with the 10-year yield rising past 4.7% and the 30-year yield approaching 5.3%. Borrowing costs remained elevated despite an unconventional mid-quarter announcement by Treasury Secretary Scott Bessent to at least double the department's long-term bond repurchases.

Cryptocurrencies bucked the broader market downturn as Bitcoin advanced significantly to cross above the $77,000 threshold, securing a weekly gain of over 20%. The digital token was bolstered by pro-crypto political tailwinds and rising bond yields, fueling significant rallies in related financial stocks like Robinhood and Coinbase.

Global energy markets continued to react to escalating geopolitical tensions in the Middle East following the expiration of a critical maritime memorandum and the seizure of an oil tanker. Brent crude futures advanced to settle above $92 a barrel, recording a sixth consecutive daily gain and exacerbating consumer retail pressures and inflation anxieties.