Headlines:Treasury yields continue to break higher as 30-year hits 5.70%, putting markets on edgeCrude oil rebounds as persistent supply risks continue to outweigh improving physical exportsBitcoin dips as over $400 million in crypto longs are liquidated in just one hourChart of the day: EUR/CHF is becoming a pressure gauge for Europe’s fiscal risksWhat are the FOMC meeting minutes and why do they rarely move markets?Markets:10-year Treasury yields +6 bps to 5.34%WTI crude up 0.7% to $90.06USD leads, EUR lags on the dayGold down 1.1% to $4,118European equities lower; S&P 500 futures -0.4%Bitcoin down 2.3% to $83,653It's still all about the bond market in trading this week. And once again, we're seeing long-end Treasury yields attempt a fresh breakout higher. 10-year yields have jumped up to 5.34% with 30-year yields racing to 5.72%, both at their highest levels since 2002.And that is keeping broader markets on edge while weighing on the overall risk mood today.European stocks already started off on the backfoot, with France's fiscal worries continuing to weigh on risk appetite in the region. Those losses are now being compounded as higher rates start to place a heavier anchor on equities. Major indices in the region are now posting over 1% losses across the board as valuations are being pressured alongside tighter financial conditions from higher rates.And even in US futures, the mood has darkened with S&P 500 futures now falling by 0.4% and Nasdaq futures by 0.7% after keeping more tentative earlier in the day.Looking to major currencies, the dollar is again benefiting from the rise in Treasury yields as it pushes gains across the board. EUR/USD is down 0.6% to 1.1185 while USD/JPY is up 0.2% to 158.35 on the day. The euro's woes are also being compounded by French fiscal risks, which are threatening to spillover into the rest of the region.In the commodities space, oil prices are settling higher with Brent crude pushing back above $102 today as traders weigh fresh Houthi attacks on Saudi Arabia alongside a potential supply disruption from a storm approaching the Gulf of Mexico. Meanwhile, gold is being weighed down by over 1% to $4,118 as the non-yielding precious metal comes under pressure from higher bond yields.With the bond market selling off again, that will put even more scrutiny on the 10-year Treasury auction and FOMC meeting minutes release coming up later today. This article was written by Justin Low at investinglive.com.