Finance

U.S. Treasury yields spiked to levels not seen since 2002, with the 10-year note touching 5.36% before experiencing a slight post-auction retreat. The surge was reinforced by hawkish statements from Federal Reserve officials indicating that additional interest rate hikes may be necessary to tame inflation. Despite strong demand during a key 10-year note auction, long-term yields remained highly elevated, unsettling equity markets.

Brent crude futures rallied past the $100 per barrel mark, pushed higher by escalating geopolitical frictions in the Middle East. Reports suggesting that the White House is assessing potential military strikes against Iran initially aggravated supply fears, though subsequent clarifications that actions would not take place before the midterm elections offered a mild reprieve. Production cutbacks by oil producers in the Gulf of Mexico also compounded upward pricing pressures.

The digital asset space witnessed widespread declines as Bitcoin fell through its critical $84,000 support level to trade near $82,000. This downturn triggered a massive liquidation cascade of leveraged long positions, impacting major tokens including Ethereum. Analysts note that the broader digital market is feeling the brunt of macro headwinds, such as the rallying U.S. dollar and jumping bond yields.