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Treasury yields held near uncomfortable highs on Friday as financial markets reacted to President Donald Trump’s new tax legislation and what it might do to America’s growing deficit. Investors pulled back, unsure whether US government bonds were still worth trusting. That skepticism spread fast after the House approved Trump’s tax bill on Thursday, a proposal that could add almost $4 trillion to the national debt. The Senate hasn’t voted yet, but traders didn’t wait to panic. At 4:56 a.m. ET, the 30-year Treasury yield dropped a little over 3 basis points, settling at 5.025%. The 10-year also moved down 3 basis points to 4.518%, while the 2-year nudged lower by 2 basis points to 3.986%. Traders understand those changes are minor. The deeper concern is why the yields are still stuck at these levels—and whether the US can be trusted to manage its debt. The whole thing got worse after Moody’s downgraded the US credit rating by one level last Friday. They blamed it on the exploding budget deficit and rising costs of borrowing. That rating now sits one step below the top tier. Moody’s didn’t say a default is coming—but they didn’t rule out financial pain, either. Thierry Wizman, who leads global rates and currencies at Macquarie, explained the math. “Even if the inability to reduce the deficit in the US doesn’t lead to default, a large deficit still implies greater bond supply, and perhaps eventual inflation as the debt is monetized to avoid default,” Wizman said . “Either way, it makes nominal fixed-income instruments less attractive as long-term investments.” So yeah, not many folks want to sit on Treasury bonds for the next 10 years right now. Meanwhile, a legal decision on Thursday gave the Federal Reserve some breathing room. The Supreme Court suggested that the central bank’s board members—including Chair Jerome Powell—can’t be casually removed by Trump. That helped cool off fears that Trump would fire Powell for not cutting rates fast enough. Investors were also waiting for more economic data—specifically, reports on new home sales and building permits were expected later Friday. Rising Treasury yields could make those numbers worse if mortgage rates continue to climb. But until those reports landed, markets stayed frozen. Over on Wall Street, the mood wasn’t any better. Early Friday, Dow Jones futures slipped 15 points, or 0.04%, with the Nasdaq 100 down 0.09%. The S&P 500 barely moved. The slow action came after a rough few days. By Thursday’s close, the S&P 500 had already dropped 2% for the week. The Dow was down 1.9%, and the Nasdaq was tracking a 1.5% weekly loss. Every one of those moves can be traced back to the Treasury market. If Trump’s tax plan becomes law, and it adds trillions to federal debt, bond investors will demand higher yields to cover the risk. That means more expensive debt for everyone else—from homeowners to corporations. And that’s exactly what traders are worried about. Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites

Bitcoin price remained near its all-time high after a stellar surge on May 21, with bulls largely in control as the market eyed price discovery. After hitting highs of $111,861, Bitcoin ( BTC ) traded to around $110,300 before rebounding higher. Despite the spike to a fresh peak, with Bitcoin outpacing the Dow Jones Industrial Average as stocks struggled , the market hasn’t witnessed a significant profit taking scenario so far. Notably, all BTC addresses flipped profitable as the cryptocurrency rallied. Yet on-chain data shows the benchmark digital asset is “still not overheated.” CryptoQuant analyst Crypto Dan posited that despite the run to a new ATH, profit taking is so far mild. “Overheating indicators such as the funding rate [and] short-term capital inflow remain low compared to previous peaks, and profit-taking by short-term investors is limited.” Alex Wacy, a popular crypto analyst and investor, noted via a post on X that while BTC storms to a new ATH, “there’s no mania.” He pointed to Google searches being low, with retail not yet in fear of missing out territory. But as Bitcoin quietly edges towards price discovery, something else is at historic levels – the global M2 money supply. Currently, this sits at over $22 trillion. “That means there’s more money in the system than ever before. But it’s not backed by an equivalent increase in productivity, goods, or services. It’s just… more money,” the analyst noted. No frenzy means it’s still early days for Bitcoin, Wacy said. His forecast aligns with overall market sentiment that Bitcoin’s price could target $150k or higher in 2025. On May 21, 2025, as BTC price broke past its January 2025 peak, Michael Saylor said buying at the top could still be profitable long-term . The confidence in Bitcoin price going higher could be why a whale just sold recently acquired Ether ( ETH ) and continues to hodl the BTC. Per Lookonchain , a whale who scooped 30,000 ETH and 600 BTC on April 27, 2025 has sold all 30k ETH. However, the address still holds all 600 $BTC purchased for $56.9 million. The whale’s Bitcoin haul was worth over $66.5 million as prices hovered above $111k.

U.S. stocks ended mixed Thursday as markets digested the House’s narrow approval of President Trump’s massive tax-and-spending package. The S&P 500 dipped 0.04%, the Dow Jones Industrial Average was flat, and the Nasdaq Composite rose 0.28%. The legislation—projected by the Congressional Budget Office to add nearly $4 trillion to the federal deficit—includes sweeping tax cuts and increased military spending. It passed the House by a single vote after last-minute revisions, including expanded deductions for state and local taxes, aimed at swaying conservative lawmakers. The bill now heads to the Senate. Another spike in Treasury yields tempered investor sentiment. The 30-year bond briefly rose above 5.16%—its highest level since 2023—before easing. The benchmark 10-year yield also pulled back slightly to 4.55%. Analysts said weak demand at Wednesday’s 20-year bond auction fueled the earlier sell-off in Treasurys, while concerns about debt sustainability persist. “Short term, the tax bill is good for the economy,” said Argent Capital’s Jed Ellerbroek. “But in the longer term, it adds to the deficit, and that’s bad for markets.” Bitcoin ( BTC ) extended its massive rally, trading above $111,000, amid optimism over Senate progress on stablecoin regulation and anticipation surrounding a Trump donor event attended by major crypto holders. Bitcoin’s rally sparked limited excitement among derivatives traders compared to past bull runs. Analysts noted that spot market demand, not speculation, drove the gains, with long/short ratios and liquidations indicating moderate bullish sentiment.

Wall Street is getting jumpy again, and this time, it’s not about tariffs. Traders are now locked onto Congress, where budget negotiations are stalling and blue state Republicans are throwing up roadblocks. The House’s massive federal budget bill hit a hard pause Tuesday when several GOP lawmakers refused to support it without a bigger write-off for state and local taxes, known as SALT. That demand is now threatening to derail the entire timeline for passage. Even with President Donald Trump getting directly involved in the talks, the standoff continues. The Republican leadership had initially aimed to pass the bill before Memorial Day weekend, but that goal is fading fast. And even if lawmakers in both chambers somehow reach a deal, the final version is expected to add more government debt, piling onto America’s already eye-watering $36 trillion deficit. The SALT issue has become a battle line. Republicans from states with high local taxes want the bill to allow a larger deduction, or they won’t vote for it. Their threat is serious enough that it’s delayed everything. Trump has been actively pushing behind closed doors, but his efforts haven’t yet unlocked the gridlock. The delay is making investors nervous, and they’re watching every move from Washington like hawks. The bigger concern is what comes after a deal… the consequences. If this bill goes through, analysts say it’s going to flood the bond market with more Treasury debt, which will likely drive interest rates up and hurt investor demand. Solita Marcelli, Chief Investment Officer for the Americas at UBS Global Wealth Management, said in a Tuesday note that Trump’s bill “is likely to see various amendments before it is passed in the two chambers of Congress and signed into law, but it nonetheless is expected to add trillions of dollars to the country’s [$36 trillion] deficit over the next decade.” She warned that this could push the supply of Treasury debt even higher, which means more strain on the bond market. At the same time, Stephen Juneau, a US economist at Bank of America , warned of a possible “bond-buyer-strike.” In his note, also released Tuesday, Juneau wrote, “Adding more supply to the market at a time when demand is softening could result in a spike in borrowing rates, a decline in the dollar, and a drop in equities. This could overwhelm any growth effects from the bill itself.” And the markets are already reacting. On Tuesday night, the S&P 500 closed down, breaking a six-day winning streak. The Nasdaq dropped too, logging its first red day in three sessions. The Dow Jones Industrial Average lost more than 100 points, snapping a three-day climb. By early Wednesday, futures tied to all three major indexes were also sliding. The S&P 500 and Nasdaq futures both dropped 0.3%, while the Dow gave up 120 points, or 0.28%. Investors had been hopeful just a few weeks ago. After Trump unveiled steep import tariffs back on April 2, markets dipped briefly, then staged a fast rebound. That rally had lifted all three indexes above their April levels, with the S&P 500 clawing back into the green for the year. The 30-year Treasury yield is now hovering just below 5%, a level not seen in years. Rising yields mean falling bond prices, and that spells trouble for a market already unsure about what comes next. Add the Moody’s credit downgrade from last week to the mix, and the pressure is stacking up fast. Meanwhile, the budget bill , originally billed as Trump’s “one big, beautiful bill,” may still pass, but not without wrecking confidence along the way. And until Congress figures out how to deal with SALT, debt, and the deficit without wrecking demand in the bond market, Wall Street has no choice but to sit and wait—with one eye on the headlines and the other on portfolios. There’s no major economic data scheduled for Wednesday, so for now, all eyes stay glued to Congress and the growing federal deficit. KEY Difference Wire : the secret tool crypto projects use to get guaranteed media coverage

President Donald Trump claimed the U.S. economy is “roaring,” citing March’s addition of 228,000 jobs. He credited his administration’s economic approach for strengthening the labor market and reviving manufacturing in key industrial states. He emphasized new industrial activity across the Midwest and South, pointing to recent factory openings and domestic hiring. Trump described the data as proof that economic momentum is shifting in America’s favor. Despite the uptick in jobs, official data shows the U.S. gross domestic product (GDP) contracted by 0.6% in the first quarter of 2025. Economists link the decline to trade disruptions and weaker consumer activity, highlighting mixed signals for the economy’s overall health. On April 2, Trump’s administration introduced broad import duties, i ncluding a general 10% levy and higher rates on Chinese goods. He framed the move as essential to protecting U.S. industries and restoring trade balance. Following the announcement, global equity markets tumbled. The Dow Jones Industrial Average dropped sharply, while other major indices registered losses. International partners responded with warnings of retaliatory measures. In the U.S., prices for electronics, food, and consumer goods rose almost immediately. Retailers reported tighter margins and higher logistics costs, adding strain to households already grappling with inflation. April saw a 0.9% increase in overall consumer prices, with imported goods showing the highest jumps. At the same time, core inflation eased slightly, suggesting some sectors experienced slower price growth. White House officials cited the core reading as a sign of stabilization. They linked the improvement to deregulation and increased supply chain control within U.S. borders. Financial institutions expressed caution. Moody’s downgraded the nation’s credit outlook earlier this month, and banking analysts warned that fiscal strategies might face long-term resistance from higher input costs. Democrats responded critically to Trump’s economic remarks. Senate Majority Leader Chuck Schumer pointed to the GDP decline and unstable markets as signals of deeper systemic issues. Senator Elizabeth Warren raised concerns about affordability for essential goods. She pressed for policies aimed at protecting working families from sudden price shifts tied to global supply pressures. Republican allies defended the tariffs, saying short-term disruptions are necessary for broader strategic gains. Meanwhile, Trump framed his critics as unwilling to accept shifting trade dynamics. Investors showed limited reaction following Trump’s May 20 comments. The S&P 500 closed modestly lower, and trading volumes remained subdued across most sectors. Market analysts cited ongoing tariff uncertainty and global supply challenges as reasons for investor hesitation. They await upcoming data releases for clearer signals on direction and policy impacts. Energy, tech, and manufacturing sectors all posted mixed results. With no clear movement, financial strategists say markets are in wait-and-see mode until new fiscal plans are revealed. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.