Finance

The fixed-income market faced significant downward pressure as U.S. Treasury yields climbed higher across various maturities. The 30-year Treasury bond yield reached its highest level since 2007, hovering around 5.26%, while the 10-year note advanced beyond 4.7%. This selloff was fueled by comments from Federal Reserve officials advocating for tighter monetary policy, alongside growing investor skepticism regarding the central bank's near-term capability to easily suppress persistent inflation.

Recent economic metrics presented a mixed environment for market participants, showing that the core Personal Consumption Expenditures price index rose by a mild 0.1% sequentially. Meanwhile, a secondary report indicated that the U.S. economy underperformed growth forecasts, with inflation-adjusted second-quarter GDP advancing at an annualized rate of 1.5% against expectations of 2.1%. Analysts are now heavily focused on upcoming labor market statistics to gauge future interest rate paths.

Despite a positive momentum day for major U.S. stock indices, the cryptocurrency market suffered a pullback on the final day of the month. Bitcoin slipped below the $63,000 threshold, weighed down by disappointing quarterly corporate earnings from industry-adjacent companies and a drop in optimism surrounding the timeline for the federal CLARITY Act. Nevertheless, the broader digital asset sector managed to close out its strongest overall monthly performance since mid-2025.