July 29, 2026MixedMedium Conviction

Daily Macro Risk Pulse

Crypto bounces into fear while oil spikes and the yield curve steepens sharply, signaling macro cross-currents that favor real assets over duration and warrant caution on risk-asset conviction.

BTC$64,543+2.0%

ETH$1,917+2.3%

SOL$73.95+1.1%

Fear & Greed29Fear

VIX18.24+0.2%

DXY101.40+0.0%

US 10Y4.600%-0.8%

Gold$4,091+1.4%

Oil (WTI)$82.68+4.3%

S&P 5007,429+0.2%

RegimeMixed

ConvictionMedium

Analysis

Yield Curve Steepening Accelerates to 84bp

The 2s10s spread now sits at +84bp with the 2Y falling nearly 1% to 3.76% and the 10Y declining 80bp to 4.60%, a meaningful bull-steepening move. This pattern is consistent with markets pricing accelerating rate cuts at the front end while long-end inflation expectations remain sticky. For portfolios, this favors duration-sensitive assets like gold (which is confirming at $4,091, +1.36%) over short-duration equity beta, and it raises the question of whether the Fed is behind the curve on easing.

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Cross-asset analysis (4 sections)
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