The market yield on a 2-year U.S. Treasury note — the annual return demanded to hold two-year government debt.
It tracks the market's near-term path for the policy rate more closely than longer maturities do.
Read as a gauge of short-term rate expectations; shown as context, not as a driver of any single asset.
Descriptive context, not a forecast or a recommendation. We show conditions and let you draw the connection; we do not assert that this indicator moves any price.
This rate is an input to the discount rate r in each asset’s price-decomposition waterfall — r = the risk-free rate (10-year Treasury) plus a disclosed crypto risk premium. A higher r shrinks the capitalized fundamental (E/r), so the measurable floor is smaller and more of the price reads as premium. An input to a discounting model, not a claim that the rate causes a price move. See the method →