May 22, 2026MixedMedium Conviction

Daily Macro Risk Pulse

Rates steepening aggressively with 2Y up 70bps while crypto fear persists despite equity resilience, suggesting macro crosscurrents ahead of key catalysts.

BTC$77,257-0.1%

ETH$2,122+0.3%

SOL$86.97+1.0%

Fear & Greed28Fear

VIX17.06+1.8%

DXY99.29+0.1%

US 10Y4.590%+0.3%

Gold$4,532-0.2%

Oil (WTI)$98.20+1.9%

S&P 5007,446+0.2%

RegimeMixed

ConvictionMedium

Analysis

Rates Curve Steepening Points to Policy Pivot

2Y Treasury surged 70bps vs 10Y's 31bp move, the most aggressive steepening in months. This suggests markets pricing higher terminal rates or extended restrictive policy. The 101bp 2s10s gap is compressing rapidly, typically signaling economic inflection points ahead.

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