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Cryptos and stocks trend lower as U.S. Treasury yields hit 16-year highs
Cryptocurrency prices trended lower for a second day on Tuesday as U.S. Treasury yields continued to climb, with the 10-year note hitting a 16-year high of 4.81% in the afternoon, which put negative pressure on financial assets across all markets. Stocks extended a downtrend that began on Friday as hawkish comments by Fed policymakers made it clear to investors that interest rates would not decline anytime soon, which was further enforced by an uptick in job openings, a sign that the vU.S. economy remains more resilient than expected. The CME’s FedWatch tool is now pricing in the odds of an interest rate hike at ... (full story)