Investors sought refuge in U.S. Treasury bonds amid concerns over the massive debt being taken on by technology companies to finance artificial intelligence networks, driving yields lower. The 10-year Treasury yield remained below 5% on Friday after falling beneath that level Thursday, then rose 4 basis points to 4.997%. Yields on 2-year and 30-year Treasurys also increased, to 4.692% and 5.31%, respectively, as technology stocks sank. Oil prices advanced, with West Texas Intermediate reaching $100.61 per barrel and Brent trading at $114.06, adding to inflation concerns. Markets will look to the Federal Reserve’s rate decision next week and Friday’s flash S&P Global PMI readings, amid attacks on Saudi Arabian oil facilities and reports of possible renewed strikes on Iran.
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