The yield on the U.S. 10-year Treasury briefly surged past 5.35% during trading, hitting approximately 5.36%—its highest level since 2002. It later pulled back to around 5.28%, but the cost of long-term borrowing remains elevated. High oil prices are fueling concerns that inflation and high interest rates could persist for longer. At the same time, the U.S. debt burden continues to grow, prompting investors to demand higher returns before committing to holding long-term Treasuries. The 10-year Treasury yield is a key benchmark for mortgage rates and corporate financing. A sustained rise in yields increases borrowing costs and reduces the present value of future stock earnings, particularly impacting high-valuation growth stocks. For Bitcoin, higher interest rates similarly mean an increase in the opportunity cost of capital. Investors can earn higher returns from U.S. dollar bonds, raising the bar for returns on risk assets. Both U.S. stocks and Bitcoin:native will need stronger buying pressure to absorb this layer of stress. One @Gate, trade more markets.