There is a significant discrepancy in the bond market that is being overlooked, with WTI crude oil surging to $99 per barrel on Friday, reaching its highest level since July 2022. At the same time, the 2-Year Treasury yield, a key indicator of Federal Reserve interest rates, stands at 3.92%, noticeably lower than the last time oil prices were at this level when the yield was over 5%. This results in a substantial 100-basis-point gap between the current yield and historical norms. John Roque, a technical analyst at 22V Research, highlighted this disparity, emphasizing that while oil is commanding the spotlight, it is the 2-Year yield that poses the greatest risk. He predicts a near-term target of 5% for the 2-Year yield. The analysis suggests that while oil prices are a cause for concern, the 2-Year Treasury yield could have a more significant impact on the market.