US 10-Year Treasury Yield Jumps 10 Basis Points to 5.31%

A 10bp single-session move in the 10-year is the kind of repricing that transmits quickly, since this yield anchors global borrowing costs and the discount rates applied to risk assets. The pressure lands hardest on rate-sensitive corners of crypto and tokenized real-world assets, where yields on offer compete directly with a risk-free benchmark now sitting at 5.31%. Whether this level holds or extends is the open question; a durable move here would keep the relative appeal of carry-oriented RWA products in focus.