Analysis: As the 10-year US Treasury yield climbed to 4.27%, risk assets such as Bitcoin and stocks came under pressure.

The yield on the 10-year U.S. Treasury note, a global benchmark for borrowing costs, has climbed to 4.27%, a four-month high, putting pressure on risk assets such as Bitcoin and stocks. Rising Treasury yields are pushing up credit costs for mortgages, business loans, and other forms of lending, thus tightening financial conditions and potentially dampening investor appetite for higher-risk assets.