Bitcoin Pulls Back to $84,000 as Bond Yields Fly Higher
9 Articles
9 Articles
The U.S. Treasury bonds rates shot yesterday, reaching the highest levels in about two decades. The disclosure of above-expected economic activity data and the most conservative tone of Federal Reserve (Fed) leaders' statements pressed the Treasures. The 30-year title yields reached the highest level since 2004, closing to 5.402%. The ten-year maturity title advanced from 4.97% to 5.116% per year, the highest rate since 2007. Amid market tension…
The bitcoin fell 2% in 24 hours and remained at $84,357. That same day, the ten-year US Treasury bond exceeded 5%, its highest level since 2007. The coincidence is not by chance. When the world’s most secure debt pays an interest of 5%, holding a currency that does not distribute dividends or coupons comes out more expensive. The bond’s yield — the interest it collects from those who lend money to a state — works like the ground that an investor…
The sell-off in US Treasuries further intensified on Wednesday, after strong economic indicators and weak demand at the five-year Treasury auction pushed yields to their highest levels since before the global financial crisis. The decline in bond prices began with rising oil prices, which heightened investor concerns about persistent inflation...
Illustrative image Photo: PexelsBitcoin drops to close to $83.9 thousand with Treasurey from 10 years to 5.11%, the largest since 2007
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