Finance

Geopolitical conflicts in the Middle East, including disruptions to marine shipping lanes in the Persian Gulf and the Strait of Hormuz, pushed Brent crude prices past $104 per barrel. Although diplomatic discussions have provided periodic pricing relief, persistent supply worries continue to inject volatility into energy markets and sustain broader inflationary concerns.

U.S. Treasury yields experienced notable upward pressure, with the 10-year and 30-year yields scaling to their highest levels in over two decades due to lingering inflation fears. However, robust investor demand during the government's multi-billion dollar auctions for 10-year notes and 30-year bonds helped pull yields slightly back from their recent peaks.

Market participants are shifting their focus to the corporate sector as a new corporate earnings season begins. Big banking institutions, led by JPMorgan Chase, are scheduled to report their financial results first, offering crucial insights into the resilience of the broader economy amid elevated interest rates.