US 10-Year Treasury Yield Holds Above 5.3% Ahead of NY Fed Inflation Expectations Report

The yield's pullback from its session high into the New York Fed's inflation expectations release suggests the market is treating the survey as a near-term swing factor rather than a trend signal. That matters for crypto and other long-duration risk assets, which have been trading largely as a function of real-rate pressure. Whether the yield can hold above the 5.3% area once the expectations data is digested is the open question — the survey is one of the few inputs that can shift the rate narrative without a Fed meeting.