According to The Kobeissi Letter, US 10-year Treasury yields have surged by 35 basis points in May 2025, reaching 4.50%. This rise is attributed to recent trade deal announcements and market sentiment that is pricing out future Federal Reserve rate cuts, providing Chair Powell with more justification to maintain current rates. For crypto traders, persistently high yields and deferred rate cuts can mean continued pressure on risk assets, as higher yields make traditional assets more attractive compared to cryptocurrencies. (Source: The Kobeissi Letter, Twitter, May 13, 2025)