Finance

Treasury yields surged during trading, with the 30-year bond and the 10-year note touching their highest levels since 2002. This sharp increase in borrowing costs has rattled global investors and triggered an asset rotation. Analysts suggest that the appealing returns on bonds may challenge equity performance over the longer horizon.

Market participants are heavily focused on the release of the Federal Open Market Committee minutes from its September meeting. Investors are hunting for details regarding the internal central bank debate over inflation management. The upcoming commentary is expected to guide expectations for additional interest rate decisions later this month.

Crude oil futures gained traction, with Brent crude tracking above $101 per barrel. Energy prices are acting as a core driver for inflation worries following reported conflicts and rebel attacks affecting key shipping routes and production regions in the Middle East. However, some long-term market forecasts suggest potential relief next year if diplomatic efforts materialize.