The U.S. Treasury’s decision to double bond buybacks emerged as a primary market catalyst, cooling the bond selloff and driving a record $2.74 billion liquidation of short positions in the cryptocurrency sector as Bitcoin approached $70,000. This liquidity injection bolstered Asian equities, while individual sectors exhibited sharp divergence: Moderna shares surged 177% on the back of positive Phase 3 melanoma vaccine data, sharply contrasting with industrial giants like Fortescue, which reported a 15% profit decline tied to operational challenges in their transition to green metals. Geopolitical volatility remains a dominant theme as oil prices rose following Donald Trump’s pledge of an 'economic D-Day' for Iran, and U.S. envoy Tom Barrack condemned Israeli airstrikes on a Syrian airbase as an unnecessary regional escalation. Domestic political discourse focused on high-stakes controversies, including assault allegations against Representative Jimmy Gomez and ongoing debates within the Democratic Socialists of America, while market participants also weighed earnings expectations for Walmart and performance metrics for firms like Honda and Toyota, which rose on reports of potential U.S. tariff cuts on Canadian imports.