May 21, 2026Risk-OnMedium Conviction

Daily Macro Risk Pulse

Equity rally accelerating with NDX +1.54% while 10Y yields crater -2.04%, but crypto lagging suggests institutional flows remain concentrated in traditional assets.

BTC$77,272-0.3%

ETH$2,115-0.7%

SOL$86.08+1.3%

Fear & Greed29Fear

VIX17.17-1.6%

DXY99.17+0.1%

US 10Y4.570%-2.0%

Gold$4,536+0.1%

Oil (WTI)$97.86-0.4%

S&P 5007,433+1.1%

RegimeRisk-On

ConvictionMedium

Analysis

Bond Rally Fuels Tech Surge Despite Rate Uncertainty

10Y yields plunged 2.04% to 4.57% while NDX surged 1.54%, confirming duration-sensitive growth trades are back in favor. The 2s10s curve continues steepening as front-end rates hold firm at 3.56%. This divergence suggests markets are pricing aggressive policy easing despite no clear Fed pivot catalyst.

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