US Treasury Yields Stay High, Citadel Securities Says Fed a Market Worry

The notable point is the framing: a major market maker tying elevated Treasury yields to the Fed itself rather than to issuance or inflation alone, which shifts the debate toward policy stance as the binding constraint on risk appetite. That matters most for duration-sensitive and leveraged crypto/RWA positions, where the cost of carry tracks the risk-free rate. Whether yields stay elevated, and whether the Fed is read as the cause, is the open question worth watching.