🥛 The fear deepens: The 10-year just hit 5.18% 😬

Q: Milk Road Macro Index fell to -0.87 as the 10-year Treasury hit 5.18%, reversing the prior recovery

Milk Road Macro Index fell to -0.87 as the 10-year Treasury hit 5.18%, reversing the prior recovery and deepening macro fear.

Q: Key risk events are August PCE on Sept 30 and October CPI on Oct 14, which could determine whether t

Key risk events are August PCE on Sept 30 and October CPI on Oct 14, which could determine whether the macro buffer holds.

·Monday, September 28, 2026·5 min read

Finance Crypto/Web3 Markets

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AI Summary

Milk Road reports the Milk Road Macro Index (MRMI) fell to -0.87 as the 10-year Treasury yield hit 5.18%, crushing financial conditions despite strong economic data. Bitcoin confirmed a second weekly close above $83K, with the author expecting further upside in Q4, while warning of near-term volatility and upcoming PCE/CPI prints.

Key Facts

✓Milk Road Macro Index fell to -0.87 as the 10-year Treasury hit 5.18%, reversing the prior recovery and deepening macro fear.

✓Bitcoin confirmed a second weekly close above $83K, with the author bullish on Q4 despite expected volatility.

✓Key risk events are August PCE on Sept 30 and October CPI on Oct 14, which could determine whether the macro buffer holds.

Author Takes

Bearish

Inflation risk

If inflation starts to blow out, we might be cooked.

Bullish

Bitcoin Q4

Bitcoin's price will likely continue higher in Q4 after the second weekly close above $83K.

Neutral

Market volatility

Things are going to stay volatile and probably get even more wild.

🥛 The fear deepens: The 10-year just hit 5.18% 😬

AI Summary

Key Facts

Author Takes

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