Finance

Energy prices marched upward with Brent crude international futures trading near $102 per barrel. The upward momentum is largely fueled by renewed geopolitical tensions in the Middle East, including reports of elevated drone and vessel attacks around critical maritime corridors. The persistent elevation in energy costs has intensified market anxieties over long-term inflationary pressures.

Fixed-income volatility remained a key market driver as the 10-year and 30-year Treasury yields surged early in the session to heights not seen since 2002. Although a robust $39 billion auction of 10-year notes brought out buyers and helped ease yields from their intraday peaks, the benchmark 30-year yield still wrapped up the session near 5.66%. The elevated yield environment has sparked institutional discussions regarding whether bonds may outperform equities in the decade ahead.

The Federal Reserve published the minutes from its September monetary policy meeting, showing that policymakers remain closely divided over the trajectory of interest rate hikes. Investors analyzed the text for clues regarding central bank sentiment, maintaining steady expectations that an additional rate increase could occur before the end of the year. The details highlighted the committee's vigilance against structural inflation driven by high energy prices.