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Market Brief
S&P 500 context
Market pulse
Rates pressure; AI leads.
Gold, crypto, oil, and dollar tells
+2.84%
Bitcoin
BTC/USD
$68.4K
Risk appetite
+0.42%
Gold
XAU/USD
$2,318
Real-yield hedge
-0.88%
WTI crude
WTI/USD
$82.40
Inflation impulse
+0.18%
US Dollar
DXY
104.6
Liquidity check
Treasury yields shaping equity multiples
4.91%
+6 bp · Policy. Short-term yield. Moves when the market reprices Fed cuts, inflation, and near-term policy risk.
4.52%
+4 bp · Discount. Long-term benchmark yield. Higher 10Y pressure can compress equity multiples, especially growth stocks.
-39 bp
Still inverted · Cycle. Spread between 10Y and 2Y yields. Inversion keeps cycle and recession risk in focus.