Finance

U.S. Treasury yields rose dramatically, with the benchmark 10-year note touching its highest mark since January 2025 and the 30-year bond yield reaching a 19-year peak. This fixed-income selloff deepened as investors reacted to the Federal Reserve's decision to maintain current interest rates alongside a perceived lack of future policy guidance from Chairman Kevin Warsh.

Energy markets saw intense volatility as the ongoing war with Iran caused crude prices to careen through July, lifting regular gasoline costs across the United States. The persistent upward pressure on logistics and shipping costs continues to challenge broad expectations for price stability, introducing complications for near-term macroeconomic forecasting.

Digital assets decoupled from the positive momentum seen in equity markets, with Bitcoin dropping below $63,000 and wiping out millions in leveraged long positions. Market sentiment was cooled by a combination of elevated geopolitical risks in the Middle East and stalled legislative progression on the U.S. Senate's CLARITY Act.