April 15, 2026Risk-OnMedium Conviction

Daily Macro Risk Pulse

Tech-led equity rally amid yield curve steepening suggests growth optimism outweighing crypto liquidity concerns.

BTC$73,916-0.9%

ETH$2,314-3.0%

SOL$83.11-3.7%

Fear & Greed23Extreme Fear

VIX18.28-0.4%

DXY98.22+0.1%

US 10Y4.260%-0.9%

Gold$4,818-0.1%

Oil (WTI)$92.60+1.4%

S&P 5006,967+1.2%

RegimeRisk-On

ConvictionMedium

Analysis

Yield Curve Steepens as Long End Rallies Hard

10Y yields plunged 95bps while 2Y rose 25bps, creating the steepest curve move in months. This dramatic steepening typically signals either Fed pivot expectations or growth optimism. Given SPX +1.18% and NDX +1.96%, markets are pricing the latter — bullish for risk assets but bearish for rate-sensitive crypto infrastructure plays.

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