US 10-year Treasury yield tops 5% for first time since 2007
- —The 10-year Treasury yield reached 5.01%, the highest since 2007
- —WTI and Brent crude hold above $100 amid Middle East tensions
- —US government debt stands at about $39 trillion; the August 10-year auction cleared at 4.683%
- —The market prices an 89-93% probability of a 25 bps Fed rate hike
Why it matters: A 5% risk-free yield weighs on equities and risk assets, including crypto, and the Fed's tone will determine further capital outflows into bonds.
Source: Crypto Briefing