Finance

The 10-year Treasury yield hovered around 5.30%, lingering close to highs not seen since 2007. The bond market stability follows a weak Department of Labor report indicating that nonfarm payrolls grew by only 29,000 in September, far missing projections. The sluggish jobs expansion has prompted investors to dial back aggressive interest rate hike bets ahead of upcoming Federal Reserve meeting minutes.

Crude oil futures softened on Monday, with West Texas Intermediate dipping near $90 a barrel and Brent crude settling around $101.58. The drop was largely engineered by G7 nations deciding to release 100 million barrels from emergency reserves alongside a recovery in Middle Eastern crude exports. These supply developments successfully countered renewed inflationary anxieties stemming from active military conflicts involving Iranian-backed forces.

Spot gold prices stabilized and moved modestly higher on Monday, hovering near $4,150 per ounce to rebound from a sharp decline late last week. Lower Treasury yields and a cooling trend in oil prices provided short-term support for non-yielding precious metals. However, the asset faces overhead resistance and a stronger U.S. dollar, keeping trading within a narrow range as participants wait for clearer macro indicators.