Global Bond Sell-Off Eases, World Shares Mostly Rise

World shares mostly advanced on Friday after a global bond sell-off and drop in oil prices brought U.S. Treasury yields to their highest in years.

The bond market appeared to have stabilized, with the yield on the U.S. 10-year Treasury easing slightly to around 5.17% early Friday after rising above 5.20% on Thursday from around 5.11% Wednesday.

U.S. futures edged higher, with the S&P 500 futures rising 0.3% and Dow Jones Industrial Average futures also gaining 0.3%. Markets in mainland China, Taiwan, and South Korea were closed due to a holiday.

Oil prices fell early Friday as investors looked for signs of the reopening of the Strait of Hormuz, with Brent crude dropping 1.7% to $98.52 per barrel.