ChartWatch-US 10-Year Treasury Bond Yield

Bond yields impact the price of money, and the price of money impacts the price of all assets. The problem for stock investors this week is the price of money just got a little more expensive.
Yields on the benchmark US 10-year Treasury Bond rose for a fourth day on Thursday, for a four-day gain of 0.21%. The move from 4.08% to 4.29% doesn't sound like much, but when you consider the US Federal Reserve usually deals in 0.25% hikes or cuts, markets are being forced to digest the better part of a Fed rate hike this week.

A hike – not a cut as they were expecting.
Typically, when rates go in the opposite of market expectations like they have this week, risky assets like stocks, commodities, and crypto get sold off – i.e., exactly what's happened!
The rise in rates was triggered by consecutive worse than expected CPI and PPI data out in the States on Tuesday and Thursday respectively. The chart above suggests previous resistance to higher yields on the US 10-year T-Bond around 4.35%, but should it crack that level, 4.52% could be on the cards.
If this occurs, expect even more pain for risk assets.