Survey: 10-Year Treasury Yield Seen Above 5% by Year-End

The survey's median above 5% matters less as a forecast than as a signal of how consensus now frames duration: the September post-Fed rally is treated as a pause, not a turn. That repricing pressure transmits directly to rate-sensitive crypto and tokenized real-asset yields, which compete with a risk-free rate not seen in roughly two decades. Whether the surveyed reversal actually materializes, or the rally extends, is the open question — and the equity-threat framing in the responses is the part worth tracking.