Finance

The benchmark 10-year Treasury yield finished the week at 5.17%, easing slightly from an intra-week peak of 5.23%, its highest level since 2007. Heavy government bond issuance, coupled with record corporate borrowing driven by artificial intelligence capital spending, has continuously applied upward pressure on yields. Despite a brief pause in the selloff on Friday, persistent inflation expectations and recent hawkish remarks from the Federal Reserve continue to support a higher rate environment.

Global energy markets experienced a sharp downturn as West Texas Intermediate crude fell below $92 a barrel and Brent futures dipped below $98. The contraction in prices followed reports that U.S. and Iranian negotiators are actively discussing a proposal to de-escalate the conflict and fully reopen the strategic Strait of Hormuz to oil tankers. Additional discussions between global superpowers regarding the cessation of foreign support for the conflict further deflated the geopolitical risk premium.

Bitcoin traded down slightly near the $84,100 level as tighter macroeconomic liquidity and elevated bond yields weighed on risk assets. Despite the minor price correction, digital asset investment products continued to demonstrate strong underlying demand, with U.S. spot Bitcoin ETFs securing $134.5 million in net inflows to mark their seventh consecutive day exceeding the $100 million threshold. Ethereum spot products similarly maintained a positive trajectory, capturing $87 million in net inflows.