Markets face pressure as oil and Treasury yields rise, IREN gains on Anthropic deal
Investors start the week cautiously as a firm dollar, higher oil prices and rising Treasury yields weigh on risk appetite across crypto, commodities and equity futures. Attention now turns to Wednesday's U.S. inflation report, with forecasts pointing to a pickup in headline price growth that could shape expectations for rates.
Highlights
- Bitcoin trades just above $83,000 and gold near $4,180 an ounce, both down 0.5% as market sentiment stays cautious.
- WTI crude rises above $92 a barrel and U.S. Treasury yields climb, reversing last week's TLT gains and shifting focus back to inflation.
- IREN rises 4% pre-market after securing a multiyear cloud services deal with Anthropic, signaling further AI infrastructure expansion.
Cross-asset moves ahead of inflation data
According to CoinDesk, Bitcoin trades just above $83,000 and gold holds near $4,180 an ounce, with both assets down about 0.5% as broader market sentiment remains restrained. Tech futures are slightly lower, WTI crude edges above $92 a barrel and the DXY dollar index stays above 102.4.Bond yields are also moving higher as bond prices fall, reversing part of the brief recovery seen in the second half of last week. During that rebound, TLT, the long-dated U.S. Treasury ETF, rose more than 2%, but the focus is now shifting back to inflation and rate expectations.
Wednesday's U.S. inflation report is the main macroeconomic event of the week. Annual core inflation is expected at 2.5%, while headline inflation is forecast at 3.7%, a result that would mark a reacceleration from the previous month.
IREN deal supports AI infrastructure outlook
As first reported by The Information, IREN has secured a multiyear cloud services agreement with artificial intelligence firm Anthropic. The company, which has repurposed from bitcoin mining into AI infrastructure, is up 4% in pre-market trading.The agreement adds a company-specific boost to an otherwise cautious market backdrop. It also highlights how digital asset-linked groups are seeking growth beyond mining by expanding into computing capacity and cloud services tied to artificial intelligence demand.
Our earlier coverage of gold’s start-of-week rebound explained how a softer dollar and easing oil prices supported bullion, even as investors looked ahead to key U.S. CPI and retail sales readings. We also noted that shifting expectations for further Fed tightening can cap non-yielding assets like gold, keeping traders highly sensitive to inflation surprises.
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