Finance

The benchmark 10-year U.S. Treasury yield remained near multi-decade highs, hovering just below 5.25% following recent pressure from interest rate hike expectations. Concurrently, the U.S. dollar index advanced to post its fourth consecutive week of gains as market participants adjust to the prospects of tight monetary policy from the Federal Reserve. These bond and currency movements come as a preliminary University of Michigan survey indicated that consumer expectations for future inflation are rising.

Crude oil futures experienced a minor pullback, with West Texas Intermediate trading near $91 per barrel and Brent crude settling around $104 per barrel. This slight decline occurred after political announcements regarding an external diesel supply agreement and temporary reassurances on Middle Eastern military strategies. Despite the immediate easing, energy prices remain elevated overall due to reports of continuing maritime disruptions near the Strait of Hormuz.

Shares of traditional mobile network operators experienced steep declines on Friday following aggressive competitive moves from satellite internet provider SpaceX. The space exploration firm secured an 800 MHz spectrum acquisition, provoking an immediate sector-wide shakeup. Major legacy carriers like T-Mobile US, AT&T, and Verizon witnessed substantial drops in equity value as a consequence of the deal.