STOCKS | 10-Year Treasury Yield Tops 5% as Bitcoin Holds Near $77,800

The 10-year Treasury yield topped 5% on Monday, matching its highest level in three years. According to NS3.AI, higher yields can raise borrowing costs and pressure stock valuations and Bitcoin. Bitcoin traded near $77,800 and remained largely steady as yields moved higher. Traders are pricing in a high chance of a Federal Reserve rate hike at its upcoming meeting.