September 10, 2026Risk-OffMedium Conviction

Daily Macro Risk Pulse

Rising long-end yields (10Y at 4.84%) and a steepening curve are pressuring duration-sensitive assets across equities and crypto while oil and gold signal stagflationary undercurrents.

BTC$77,943-1.4%

ETH$2,467-1.0%

SOL$101.07-2.7%

Fear & Greed69Greed

VIX16.51+0.3%

DXY98.81+0.0%

US 10Y4.840%+0.7%

Gold$4,441+0.6%

Oil (WTI)$97.32+1.3%

S&P 5007,636-0.5%

RegimeRisk-Off

ConvictionMedium

Analysis

10Y at 4.84% Is the Macro Fulcrum

The 10Y yield rose 0.65% on the day to 4.84%, with the 2s10s spread now at +103bp — a deeply positive term premium environment that reprices discount rates across all risk assets. This move is not a growth scare (2Y only +0.79bp); it's a term premium re-rating, likely driven by fiscal supply concerns or inflation re-anchoring fears. For crypto and tech, this is the single most important variable: NDX down 64bp directly reflects the duration repricing, and BTC's $77.9K print (-1.44%) shows digital assets are not immune to real rate gravity.

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