Finance

Longer-term government bond yields remained relatively steady, ending a rocky week where borrowing costs reached new 24-year peaks. The benchmark 10-year Treasury yield hovered around 5.24% following an easing of immediate Middle East tensions due to a delay in anticipated geopolitical actions. However, fixed-income markets remain pressured by expectations that the Federal Reserve may implement another interest rate hike before the year concludes.

International oil benchmarks experienced a slight downward correction from recent highs after a major fuel supply agreement was finalized with Russia to introduce more diesel into global markets. Despite the marginal relief that brought West Texas Intermediate and Brent crude futures to roughly $91 and $104 per barrel respectively, prices continue to find a solid floor due to ongoing vessel attacks near the Strait of Hormuz.

The broader cryptocurrency market showed modest recovery as Bitcoin consolidated around the $82,300 to $83,100 territory. Shifting macroeconomic outlooks and rising yields had previously triggered a substantial long-side liquidation across digital asset exchanges and sharp weekly outflows from spot Bitcoin exchange-traded funds. Market participants are closely watching key technical levels ahead of the next Federal Reserve policy meeting.