Rising 4.54% yields and hot inflation press global markets.

The upcoming trading week brings critical macro data into focus as Treasury yields reach multi-month highs following a strong payrolls report. With the 10-Year yield returning to 4.54%, market participants are closely tracking how fixed income pressure influences the Nasdaq-100 and broader equity markets. The upcoming May CPI report takes center stage on Wednesday, serving as a primary catalyst for inflation expectations after April figures hit 3.8% amid energy disruptions. Investors will watch whether core prices are absorbing energy pressures, a development that could eliminate flexibility for the Federal Reserve at its next meeting. Beyond inflation data, the market will navigate a light earnings schedule and key international central bank rate decisions. WTI Crude Oil futures and currency markets also stand ready for potential repricing as the U.S. economic narrative shifts.