The decline today in equity markets came as the 10-year Treasury yield surged another nine basis points to a fresh 16-year high of 4.63%. Alongside the rise in interest rates, the price of oil was ahead by more than 3.5% to a new 2023 high of $93.53 per barrel. The term “stagflation” – suggesting a combination of slow growth and fast inflation in the economy – hasn’t been seen a lot since the 1970s, but quickly rising rates and oil prices are likely to spark an increase in usage.
Source: https://www.coindesk.com/markets/2023/09/27/bitcoin-slides-back-towards-26k-as-surging-interest-rates-trigger-macro-jitters/?utm_medium=referral&utm_source=rss&utm_campaign=headlines