U.S. debt yields break 5%! Global funds suddenly "rebellious": Are money starting to dislike risk?

When U.S. debt yields rise above 5%, it's not just a number, it's an "attitude."
To put it simply:
Now even the "most boring assets" offer you 5% returns, who still wants to take risks?
It's like you have two friends:
One reliably gives you 5 dollars a year;
The other says "Maybe 50, or maybe you'll lose money."
In the past, everyone would choose the second, now they're hesitating.
This is the core change in the current market—
The "attractiveness" of risk assets is being re-priced.
Stocks, cryptocurrencies, real estate—all fundamentally competing for one thing:
Capital's attention.
And when the risk-free rate rises, these assets must be "cheaper" to attract investors.
So you'll notice a phenomenon:
Many good news, but no upward movement.
It's not that the market doesn't want to go up, but money has become more selective.
To sum up:
When you can make money just by lying down, who still wants to stand and take a hit?#Gate广场五月交易分享