Finance

The 10-year U.S. Treasury yield retrenched from near its highest levels since 2007 to close around 5.18%. The brief respite in the fixed-income selloff followed reports that U.S. and Iranian negotiators are actively discussing a phased deal to reopen the Strait of Hormuz. Despite the late-week pullback, yields remained significantly higher over the weekly period due to persistent inflation concerns.

Major digital assets exhibited resilience, with both Bitcoin and Ethereum coiling near recent highs and tracking weekly gains close to 10%. The market managed to shake off a major $351.6 million security breach affecting the Bitget exchange, where Circle and Tether successfully froze associated stablecoins. However, the broader risk-off sentiment in digital assets cast a shadow on U.S.-listed cryptocurrency equities, which fell across the board.

The final September consumer sentiment figures from the University of Michigan came in slightly above previous estimates at 48.1. While indicating a marginally healthier consumer environment, the survey highlighted that individuals are accelerating purchases specifically to outrun future price hikes. This behavior continues to keep inflation concerns at the center of monetary policy discussions.