Finance

Long-dated government debt yields extended their ascent, with the 30-year Treasury yield touching its highest level since 2002 at 5.594% and the 10-year reaching 5.25%. In contrast, shorter-term two-year yields eased following statements from New York Federal Reserve President John Williams, who indicated there is no immediate urgency for further interest rate hikes before the central bank's next meeting.

Gold prices stabilized around the $4,120 to $4,180 per ounce range, holding near a two-month low after experiencing a sharp 3% to 4% sell-off in previous trading. The commodity has faced intense downward pressure from a strengthening U.S. dollar, multi-decade highs in bond yields, and shifting market expectations regarding global monetary policy tightening.

Brent crude futures declined below $101 per barrel, pulling back from recent multi-month highs near $106. The correction came amid reports of recovering energy flows out of the Middle East and indications of another release of strategic emergency reserves by the United States. However, prices remain significantly elevated compared to summer levels due to ongoing geopolitical standoffs.