Dogecoin down 8%, bitcoin under $84,000 as Treasury yields hit highest level since 2007
A rebound in oil, the strongest U.S. business survey in five years and a poorly received five-year note sale pushed borrowing costs higher, with DOGE leading token losses.
Treasury yields have reached their highest level since 2007. A rebound in oil, a strong US business survey, and a poorly received five-year note sale have pushed borrowing costs higher. According to CoinDesk, Dogecoin led token losses, falling 8%.
The increase in Treasury yields has raised concerns about potential rate hikes from the Federal Reserve, causing major averages to tumble in regular trading, as reported by CNBC and CNBC World.
The 10-year Treasury yield has breached 5%, a level that has been viewed as a psychological marker, with some investors wondering if 6% could be the new threshold to watch.
Brief written by urgent.news from CoinDesk, BusinessDay Nigeria, New Straits Times, CNBC, CNBC World — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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