May 01, 2026TransitionalMedium Conviction

Daily Macro Risk Pulse

Risk assets advance despite crypto Fear Index at 26, suggesting nascent regime shift as 10Y yields drop 27bp while equities rally.

BTC$77,328+1.8%

ETH$2,283+1.2%

SOL$83.94+1.2%

Fear & Greed26Fear

VIX17.08+1.1%

DXY98.02-0.1%

US 10Y4.390%-0.6%

Gold$4,580-0.8%

Oil (WTI)$105.49+0.4%

S&P 5007,209+1.0%

RegimeTransitional

ConvictionMedium

Analysis

Bond Rally Powers Risk-On Despite Crypto Fear

US10Y yields falling 27bp to 4.39% while SPX gains 1.02% signals potential pivot from rate-driven sell-off. The 80bp spread between 2Y at 3.59% and 10Y suggests curve steepening trade gaining momentum. This bond rally contradicts crypto Fear Index at 26, creating cross-asset divergence worth monitoring.

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