US 5-Year Treasury Auction Yields Highest Since 2006
- —5-year Treasury yield hit 5.033%, the highest since June 2006
- —Bid-to-cover dropped to 2.212, the lowest since December 2018
- —Indirect buyers took 54.3% of the issue, the lowest since March 2020
- —10-year yield rose to 5.12%, 30-year to 5.37%
Why it matters: Rising yields raise the cost of holding non-yielding assets like bitcoin, with markets pricing a 70% chance of a Fed hike in October.
Source: BeInCrypto PL