Finance

Treasury yields are pushing upward, with the 30-year bond hitting a peak unseen since 2002 alongside a rising 10-year note yield. This upward shift is closely tracking a rise in global crude prices, driven heavily by escalated maritime attacks in the Strait of Hormuz that threaten energy supplies and fuel broader inflationary concerns.

Financial markets are highly focused on the upcoming afternoon release of the Federal Open Market Committee minutes from its September session. Market participants are searching for specific details regarding the central bank's inner rationale for its prior unanimous rate hike and potential signals for upcoming monetary tightening.

Government data reveals that the goods and services deficit expanded significantly to $105.6 billion for August, exceeding original consensus projections. This widening trade deficit points toward highly resilient domestic activity and strong import volumes, potentially complicating future inflation paths.