Finance

Long-term Treasury yields continued to move upward and held near decade-highs, with the 30-year yield settling around 5.27% and the 10-year yield near 4.73%. Borrowing costs remained elevated despite previous attempts by Treasury Secretary Scott Bessent to contain them by expanding the government's bond-buyback program.

Bitcoin climbed significantly to trade above $77,000, wrapping up its most impressive weekly performance in over two years. The cryptocurrency was propelled by substantial institutional demand, resulting in over $1 billion flowing into digital asset ETFs over a two-day span.

President Donald Trump's meeting with cryptocurrency executives and his push for Congress to pass the Digital Asset Market Clarity Act provided a strong tailwind for digital assets. The legislative optimism triggered sharp rallies for crypto-adjacent stocks, with Coinbase Global and Robinhood Markets posting substantial single-day gains.