Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.
The biggest and most established global event for everything crypto, blockchain and Web3.The present level of bond yields could weigh on all assets, Goldman Sachs said.continues to chop at elevated price levels just below record highs, suggesting a typical temporary bull-market pause, at least one observer is worried that recent macroeconomic developments could impede a move higher.
Treasury yields have been rising, predominantly due to persistent U.S. debt concerns, the deluge of bond supply and the uptick in Japanese government bond yields. The yield on the benchmark 10-year Treasury has climbed 24 basis points to 4.55% in two weeks, according to data from charting platform TradingView. Several traditional market analysts say a move above 4.
"We're now at a level of bond yields where rising yields from here are really going to weigh on all asset classes," Peter Oppenheimer at Goldman SachsAs such, traders will closely watch the personal-consumption expenditures price index for guidance on the direction of Federal Reserve interest rates. The data, the Fed's preferred inflation measure, is scheduled for release on Friday at 8:30 EST .
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