Tom Lee: Market Is Pricing in Two Fed Rate Hikes This Year, Rising U.S. Treasury Yields Become Main Headwind

CoinFeed June 25 news, BitMine Chairman Tom Lee said in yesterday's webinar that since Kevin Warsh held the first Federal Reserve press conference last week, the market is still digesting his remarks. At the macro level, oil prices have fallen from the highs during the war, with WTI crude at $74, and the war premium is fading, approaching the level of about $65 before the invasion, indicating that the market is pricing in the war gradually moving towards an end. But on the other hand, the 10-year Treasury yield has continued to climb, rising from 4.2% during the war to 4.5%, and has been rising since February. Tom Lee believes that the main headwind for the market recently is precisely the rise in U.S. Treasury yields, not just the 10-year – the market itself is beginning to price in that the Fed must raise interest rates. Federal funds futures data show that the market has currently priced in nearly two rate hikes by year-end.