Finance

Cryptocurrencies surged, with Bitcoin approaching $77,000 to record its strongest weekly performance in more than two years. The digital asset rally was fueled by liquidity injections from the U.S. Treasury's expanded bond buyback program and legislative progress surrounding the Digital Asset Market Clarity Act.

Treasury yields continued to track higher after a brief midweek reprieve prompted by Secretary Scott Bessent's announcement of expanded debt buybacks. Long-term borrowing costs, including the 10-year and 30-year yields, bounced back toward multiyear highs as persistent concerns over government deficits and fiscal policy overshadowed the temporary intervention.

Precious metals experienced a substantial rally, with front-month gold futures settling near $4,624 per ounce to lock in a third consecutive weekly gain. The commodity's upward trajectory reflects heightened investor anxiety regarding the path of U.S. fiscal policy and a softening dollar index.