CoinMeta data: The yield on 30-year U.S. Treasury bonds has risen to its highest level in over 20 years, currently at 5.44%, which is the highest rate since June 2004. This means that investors are demanding higher returns in order to lend money to the U.S. government for a period of 30 years. Due to strong U.S. business activity data, increasing expectations of interest rate hikes, and weak demand for a $7 billion auction of 5-year Treasury bonds, there has been a surge in selling of Treasuries. The Treasury Department is attempting to alleviate the pressure through long-term Treasury bond repurchases of up to $6 billion, but yields continue to rise. When the yield on 30-year bonds rises, mortgage loan rates, corporate borrowing costs, and government interest costs also typically increase. This also puts pressure on the stock and crypto markets, as higher yields reduce the attractiveness of riskier assets. In simple terms, the bond market is indicating that funds have once again become more expensive. Next, the market will be watching inflation data, employment data, Federal Reserve comments, and Treasury bond auctions to see if yields will continue to rise or eventually cool down.