BitMine chairman Tom Lee said a pullback in U.S. Treasury yields could open the door for a rebound in stocks and crypto. He pointed to comments from Wall Street veteran Jim Bianco, who turned bullish on U.S. Treasuries for the first time in six years after yields climbed to roughly 20-year highs and said current levels look attractive. According to Lee, if yields start to fall, several market narratives could loosen at the same time, including concerns around the so-called "maximum pain" yield level, the fiscal deficit, inflation worries, and the Federal Reserve’s hawkish stance. In that setup, risk assets such as equities and cryptocurrencies could recover.
BitMine chairman Tom Lee said stocks and crypto could rebound if U.S. Treasury yields begin to fall.
Lee cited Wall Street veteran Jim Bianco, who turned bullish on U.S. Treasuries for the first time in six years after yields rose to about 20-year highs, saying current levels look attractive.
Lee said that if Treasury yields start to retreat, market narratives tied to the "maximum pain" yield level, the fiscal deficit, inflation concerns, and the Federal Reserve’s hawkish stance may all begin to loosen. In that case, equities and other risk assets, including crypto, could see a rebound.
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