10-year Treasury yield jumps back above 5% as oil gains and more Fed rate hikes expected

Coverage from Fundstrat Direct reports that cross-asset volatility is coming back, while equity trends and momentum remain fragile. Fundstrat Direct frames the return of cross-asset volatility as a central feature of the current market environment, suggesting that price swings are no longer confined to a single asset class but are spreading across equities, bonds, and commodities. The coverage emphasizes that equity trends and momentum remain fragile, indicating that stock market direction lacks conviction even as volatility rises elsewhere. No specific index levels, yield figures, oil prices, or Federal Reserve policy statements are included in the Fundstrat Direct item itself; the coverage does not quantify how far yields have moved, how much oil has gained, or how many rate hikes are priced in. The background context a reader needs is that rising Treasury yields and higher oil prices typically pressure equity valuations, while expectations of additional Fed rate hikes tighten financial conditions across markets. What to watch next, based only on stated facts, is whether cross-asset volatility continues to build and whether equity trends and momentum stabilize or deteriorate further, as coverage does not yet specify a timeline or catalyst for resolution.