Finance

The aggressive slide in government debt markets took a brief breather, bringing relief to equity markets. The benchmark U.S. 10-year Treasury yield fluctuated slightly lower to 4.78% after touching multi-year highs earlier in the week, driven by persistent inflation worries and potential interest rate hikes.

International oil prices expanded their recent gains due to escalating military tensions and exchanged airstrikes between the United States and Iran. Brent crude benchmark futures settled up at $95.63 per barrel, stoking broader concerns about supply constraints through the Strait of Hormuz and upward pressure on global inflation.

Spot gold prices declined to around $4,333 per ounce, pulling back significantly from previous peaks. Hawkish expectations regarding Federal Reserve policy and soaring bond yields have heightened the opportunity cost of holding non-yielding precious metals, keeping prices under consistent downward technical pressure.