April 22, 2026MixedMedium Conviction

Daily Macro Risk Pulse

Divergent asset performance signals regime uncertainty as 10Y yields spike 4.24bps to 4.29% while crypto outperforms equities and gold rallies to record highs.

BTC$78,030+2.0%

ETH$2,391+2.7%

SOL$88.19+2.6%

Fear & Greed32Fear

VIX19.26-1.2%

DXY98.32-0.1%

US 10Y4.290%+1.0%

Gold$4,772+1.6%

Oil (WTI)$90.45-1.8%

S&P 5007,064-0.6%

RegimeMixed

ConvictionMedium

Analysis

10Y Treasury Shock Threatens Risk Assets

The 10Y yield surged 4.24bps to 4.29% while 2Y held flat at 3.60%, steepening the curve dramatically. This bear steepening typically pressures duration-sensitive assets and signals inflation or growth concerns. Equity markets responded predictably with SPX down -0.63% and NDX -0.59%, yet crypto's +2-3% gains suggest either late-cycle speculation or portfolio rebalancing flows.

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