US Treasury bond yields surge to 4.80% amid geopolitical tension, approaching levels unsustainable for the economy and creating headwinds for crypto risk assets.
Macro & Markets ·
The 10-year Treasury note yield has reached 4.80%, its highest level since January 2025, after rising 20 basis points since the US Treasury's intervention announcement 13 days ago. The yield has climbed 85 basis points since the Iran War began, with mortgage rates returning to 7% and markets pricing in a September rate hike. Extended periods above 5% on the 10-year yield would be unaffordable for the US economy, creating headwinds for risk assets including cryptocurrencies.