Finance

Government bond yields continued to rise and hovered near decade-highs, with the 10-year Treasury yield closing near 4.73% and the 30-year yield hitting 5.27%. This upward pressure persisted despite Treasury Secretary Scott Bessent's unexpected announcement earlier in the week to double long-dated bond repurchases in an effort to contain borrowing costs.

Bitcoin posted an impressive weekly gain of over 20%, climbing past $77,000 to achieve its strongest weekly performance since 2024. The digital asset rally, which also propelled shares of crypto-related companies like Coinbase and Robinhood, was driven by the Treasury's market liquidity expansion and President Trump's push for Congress to advance the Clarity Act framework.

Front-month gold futures advanced 5.6% for the week to settle at $4,624.10 per troy ounce, marking a third consecutive weekly gain. Investors increasingly turned to precious metals as a debasement hedge, spurred by ongoing worries regarding the U.S. fiscal deficit and a softening dollar.