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US 10-year yields touched 4.81%, the highest since October 2023, while German and French 10-year yields hit 3.37% and 4.24%, their highest since 2011 and 2008 respectively, in a synchronized global term-premium repricing. Rising discount rates are the dominant channel: the S&P 500 has broken a major support level, S&P futures slipped 0.1%, European indices fell, and Bitcoin dropped 0.9% to $76,705 as long-duration risk assets absorb the hit; gold at $4,323 is down more than 8% from its highs, showing the move is real-rate driven rather than a simple risk-off flight. Watch the Strait of Hormuz, where the IRGC claims two more tankers were disabled by mines with WTI at $89.44, since an oil-led inflation impulse would reinforce hawkish Fed pricing and keep the yield-equity feedback loop intact; a decisive break back below 4.70% on 10-year UST would be the first sign of relief.
As a Macro signal, watch whether it changes price action, volatility, or flows around BTC, GSPC, CL=F.
Original Source: InvestingLive News
This page is market information analysis, not investment advice.
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