US 2-Year Treasury Yield Hits 4.416%, Highest Since Jan 2025

The move in the 2-year yield signals a repricing of near-term rate expectations, which directly impacts the discount rates applied to long-duration digital assets and RWA valuations. Higher yields tend to tighten liquidity conditions, making yield-bearing on-chain products relatively less attractive versus traditional fixed income. The key question is whether this level holds or accelerates, as sustained pressure could force a broader reassessment of risk appetite across crypto markets. Watch for any shift in Fed commentary that might confirm or counter the market's current direction.