Finance

Global oil benchmarks saw a significant decline, with Brent crude falling back below $100 per barrel as traders weighed the viability of U.S.-led diplomatic efforts. While Tehran has signaled some resistance to the current proposal, the potential for a pause in the conflict eased immediate supply concerns that had previously spiked prices.

Despite a slight daily retreat in some bond yields, the broader trend shows significant pressure as the 10-year Treasury note remains near 4.33%. This environment has pushed the average 30-year fixed-rate mortgage to 6.43%, the highest level since October, as investors continue to price in persistent inflationary risks.

The cryptocurrency market showed signs of a tentative recovery in March, with Bitcoin consolidating between $60,000 and $75,000. While the asset has faced a 20% decline year-to-date, recent data suggests easing sell-side pressure and a potential market bottom as it trades near the $71,000 level.

The national current account deficit narrowed by 20.2% in the fourth quarter to $190.7 billion, its lowest level since early 2021. This contraction was fueled by a reduction in the goods trade deficit and a rise in primary income, even as broader economic growth slowed to an annualized pace of 1.4%.

New economic data shows the Producer Price Index for final demand rose 3.4% for the 12 months ending in February 2026. Higher costs for services and the impact of import tariffs have contributed to firmer-than-expected inflation metrics, complicating the Federal Reserve's outlook for potential interest rate cuts.