Finance

Crude oil prices experienced downward pressure following a newly announced agreement between the United States and Russia to bolster diesel supply for global markets. Additionally, a commitment by the U.S. administration to hold off on military actions against Iran until after the upcoming midterm elections helped calm energy desks. Despite the late-week pullback, international benchmarks like Brent crude remained elevated, trading above the $100 per barrel threshold due to ongoing shipping vulnerabilities near the Strait of Hormuz.

Fixed-income markets saw a slight reprieve as the benchmark 10-year Treasury yield consolidated under the 5.25% mark. This movement follows a sharp mid-week sell-off that had driven the 10-year yield to a multi-decade high of nearly 5.37%. Although long-term yields remain near their highest levels since 2002 due to persistent inflation concerns and hawkish Federal Reserve expectations, the recent stabilization offered relief to broader equity markets.

Digital assets encountered downward momentum with the aggregate cryptocurrency market capitalization dipping toward $2.85 trillion following significant spot ETF outflows and forced leveraged liquidations. Bitcoin retreated to around $82,300, down from its weekly high near $86,000, as traders rotated out of risk assets due to tightening monetary conditions. Analysts note that digital assets remain highly sensitive to macroeconomic indicators and the upcoming Federal Reserve policy decisions.