Markets Remain Cautious Amid Ongoing US-Iran Tensions

Global markets remained cautious on Friday due to unresolved tensions between the U.S. and Iran, leading to volatile crude oil prices.

The recent doubling of bond buyback by the U.S. Treasury has left investors speculating about its impact, with concerns lingering over inflation, fiscal deficits, and corporate bond issuances.

Wall Street futures gained around half a percent after suffering heavy losses on Thursday, while major European benchmarks traded on a mildly positive note.

Asian markets finished trading on a mixed note, with the six-currency Dollar Index declining by about a quarter of a percent. Ten-year sovereign bond yields mostly eased, but 30-year U.S. bond yields ticked up to 5.26% from their high of 5.337% recorded earlier this week.

Crude oil price benchmarks remained directionless near the flatline, while gold prices surged by nearly 2%. Cryptocurrencies continued their gains, with Bitcoin reaching a little under $80,000 before retreating.