April 28, 2026Risk-OffMedium Conviction

Daily Macro Risk Pulse

Energy surge (+3.47% oil) amid rising 10Y yields (4.34%) signals stagflation concerns, pressuring risk assets as Bitcoin dominance holds at 59.9% despite broad crypto weakness.

BTC$76,515-1.6%

ETH$2,282-1.6%

SOL$83.72-1.8%

Fear & Greed33Fear

VIX18.43+2.3%

DXY98.75+0.3%

US 10Y4.340%+0.6%

Gold$4,628-1.0%

Oil (WTI)$99.71+3.5%

S&P 5007,174+0.1%

RegimeRisk-Off

ConvictionMedium

Analysis

Steepening Curve Signals Growth Concerns

The 10Y-2Y spread widened as 10Y yields jumped 60bps to 4.34% while 2Y fell 8bps to 3.59%. This steepening typically reflects growth slowdown fears or inflation expectations. Combined with VIX rising 2.28% to 18.43, markets are pricing defensive positioning despite equities holding modest gains.

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