US Treasuries and UK bonds both soared to their highest levels since 2002❗️ Does this have a big impact on high-risk assets? Crypto: Jumped to 85,500, then got pushed back to 83,500. Gold: Dropped to 4,140, a seven-week low. US stocks: Buying US Treasuries is more profitable than buying the S&P 500. Risk-free yield at 5.3%. Non-yielding assets are being drained. Money is getting expensive. All high-valuation assets propped up by stories are being repriced.