Global bond market sell-off intensifies, with the 30-year U.S. Treasury yield pushed up to 5.2004% (Source: CNBC), on top of the Federal Reserve’s benchmark interest rate still being stuck at 3.75% (Source: TradingEconomics), directly hitting high-duration asset valuation models. In the 24 hours, $SHOP 24 fell 3.6% to $146.99, reflecting the direct squeeze on growth stock valuations as yields surge. The funding rate being zero indicates that no one-way leverage buildup has yet formed; more than anything, it’s a broad-based contraction in risk appetite.

Trading tag: #TradFi #链上美股 #SHOP

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