Finance

Brent crude settled near $104 per barrel after temporary relief emerged from a pledge that there would be no imminent military strikes on Iran. However, ongoing security threats near the Strait of Hormuz kept energy prices highly elevated, sustaining macro inflation pressures. To help mitigate the supply crunch, a trade agreement was reportedly reached with Russia to inject additional diesel into global channels.

The benchmark 10-year U.S. Treasury yield concluded trading around 5.24%, successfully holding beneath its multi-decade peak of nearly 5.37% reached earlier in the week. Yields cooled from their historic heights following robust demand during the government's auctions of 10-year and 30-year bonds. Despite the short-term stabilization, persistent core inflation forecasts continue to support expectations of future Federal Reserve interest rate hikes.

Bitcoin established a baseline near $82,500, bouncing back from a multi-week low triggered by intense macroeconomic headwinds. The broader cryptocurrency market experienced significant long-side derivatives liquidations due to heightened expectations of year-end monetary tightening. Concurrently, outflows from U.S. spot Bitcoin exchange-traded funds accelerated, hitting multi-month records.