Suspected Wintermute Wallet Purchased 37.86 Million CAT 4 Hours Ago

The yield on 10-year US Treasury bonds has surged past 4.78%, approaching the 5% threshold, while the yield on 10-year Japanese bonds has touched 3% for the first time in 30 years. The simultaneous breakout of these two global benchmark sovereign bonds reflects concentrated macroeconomic pressures: Middle East conflicts have pushed oil prices back up to $90, Federal Reserve Chair Powell's hawkish stance has suppressed expectations for interest rate cuts, and a record-high $40 trillion US debt supply and the Bank of Japan's imminent tightening have together created extreme liquidity squeezes on both the supply and demand sides globally.