Finance

The 10-year Treasury yield experienced its most significant quarterly surge since 1994, exceeding 5.3% during intraday trading. Investors pushed yields higher following a Commerce Department update that raised the second-quarter U.S. GDP growth estimate to 2.2%. Although the Federal Reserve's preferred core inflation measure slowed to an annual rate of 3.4%, the resilient domestic economy continues to fuel speculation over a potential interest rate hike later this year.

Oil futures experienced a minor decline on Thursday, with Brent crude dipping toward $97 a barrel and West Texas Intermediate settling near $90. Geopolitical friction continues to generate supply anxieties after ongoing discussions between Washington and Tehran failed to resolve restrictions at the Strait of Hormuz. However, the immediate pressure on global supplies has been temporarily alleviated by the recovery of Saudi Arabian pipeline shipping operations via the Red Sea.

The cryptocurrency market remained under pressure, with Bitcoin fluctuating around the $86,000 threshold. Digital asset managers point out that Bitcoin has increasingly transformed into a macro-driven asset that mirrors traditional stock and bond market patterns. Intense macroeconomic hurdles—including rising Federal Reserve interest rates, high bond yields, and legislative gridlock over the CLARITY Act—continue to limit a broader recovery heading into the fourth quarter.