The 10-year Treasury yield, the so-called risk-free rate, has risen by 15 basis points to 4.05% since Friday, also a sign of traders reassessing dovish Fed expectations or the possibility of the central bank delaying the rate cut. The benchmark yield fell by nearly 80 basis points to 3.86% in the final three months of 2023, offering a tailwind to risk assets, including bitcoin, thanks to expectations for aggressive Fed rate cuts and lesser-than-expected bond issuance by the U.S. Treasury.
Source: https://www.coindesk.com/markets/2024/01/08/bitcoin-asian-stocks-drop-as-traders-pare-march-fed-rate-cut-bets/?utm_medium=referral&utm_source=rss&utm_campaign=headlines