Finance

Crude prices steadied at elevated levels following news that the U.S. will hold off on Middle Eastern military strikes until after the upcoming midterm elections, alongside a newly announced diesel supply deal with Russia. West Texas Intermediate hovered near $91 per barrel, while global benchmark Brent crude remained firmly above $100 per barrel. Despite the temporary easing of immediate supply threats, ongoing security incidents around the Strait of Hormuz continue to underpin the energy market.

Fixed-income markets calmed down over the weekend, with the benchmark 10-year Treasury yield flattening near 5.24% after touching a 24-year high earlier in the week. Yields found support from strong demand at recent multi-billion dollar government debt auctions, which temporarily balanced out hawkish commentary from Federal Reserve officials. Traders are keeping a close watch on bond volatility as persistent inflation and soaring public debt keep long-term yields elevated.

The cryptocurrency market found a steady footing following an earlier leverage-driven correction that was amplified by hawkish Federal Reserve meeting minutes. Bitcoin traded around $82,300, staging a minor recovery after opening at its lowest level in three weeks. Despite the short-term stabilization, the broader digital asset sector remains highly sensitive to rising Treasury yields and the threat of prolonged high borrowing costs.