Finance

Treasury yields experienced volatility as Kevin Warsh was sworn in as the new Federal Reserve Chair, amidst ongoing debates regarding central bank independence and inflation management. While the 10-year Treasury yield eased to approximately 4.56% by week's end, the 2-year yield hit a fresh 52-week high earlier in the period as markets priced in a higher probability of year-end rate hikes.

Strong quarterly reports from retailers like Ross Stores and tech firms such as Workday and Zoom Communications bolstered investor sentiment. Additionally, shares of Dell Technologies and HP surged over 15% on optimistic forecasts, while Qualcomm saw gains following news of a strategic partnership, outweighing slight pullbacks in major AI leaders like Nvidia.

Commodity markets reacted to fluctuating reports concerning U.S.-Iran peace negotiations and maritime control in the Strait of Hormuz. Brent crude oil prices hovered around $103 per barrel, while gold prices faced downward pressure, retreating toward the $4,500 per ounce support level as investors balanced safe-haven demand against rising yields and a firmer U.S. dollar.