Stress levels are rising if still not flashing red.

Rising bond yields and widening credit spreads are pushing Saxo's global risk gauge to its worst level since the 2025 Liberation Day tariff shock.

• Yields and credit stress rise: US 10-year breached 5.25% (highest since 2007-era levels); Bloomberg high-yield spread widened 9bp to 303bp from ~265bp a week ago.
• Global risk model worst since Liberation Day: Hardy's proprietary risk indicator is at its worst reading since the March-April 2025 tariff shock, even as VIX stays calm and equities relatively steady.

Themes, sentiment and reasons are AI-written paraphrases, checked so they never quote an episode. They may contain errors. Not investment advice. Episodes remain the property of their creators.