According to The Kobeissi Letter, recent 'trade deal' headlines have lost their suppressive effect on yields, with yields now rising due to decreased recession fears and heightened inflation expectations (source: @KobeissiLetter, May 23, 2025). This trend signals a potential return of trade war dynamics, which could increase volatility in global markets. For cryptocurrency traders, rising yields and renewed trade tensions often correlate with risk-off sentiment and increased crypto market volatility, making it critical to monitor these macroeconomic shifts for informed trading decisions.