Finance

Crude futures fell by roughly 2% as the White House rolled out an intensive economic campaign targeting Iran, dubbed 'Economic D-Day.' The downward movement in energy prices comes amid reports that the country's local currency hit a record low. Despite structural concerns about navigating energy infrastructure safety in the Persian Gulf, both Brent and WTI crude fell to multi-session lows following details from Treasury Secretary Scott Bessent.

Long-term government bond yields pulled back slightly today, with the 10-year Treasury yield slipping back toward 4.70%. The move was spurred by speculation that the U.S. Treasury Department might tap its $1 trillion general account to expand its sovereign debt buyback operation. However, market participants remain cautious, warning that massive supply and underlying structural deficits continue to keep a relatively high floor under long-term borrowing costs.

The broader cryptocurrency market is consolidating its massive weekly gains, with Bitcoin maintaining a trading range between $78,000 and $79,000. Digital assets have experienced a strong multi-day rebound fueled by positive political momentum and legislative progress regarding stablecoin adoption. Corporate financial updates have also underscored massive institutional demand for crypto assets, even as traders prepare for comments from central bank leaders later this week.