A very simple explanation of why interest rates matter and affect risk assets can be found in yields
Only one maturity from 9/15/23 to 6/30/2024 under 5%
9/15/2023 5.001
9/30/2023 5.058 5.036 5.038
10/15/2023 5.042
10/31/2023 5.051 5.067 5.035
11/15/2023 5.076 5.056
11/30/2023 5.081 5.055 5.054
12/15/2023 0.125 5.089
12/31/2023 5.084 5.076 5.098
1/15/2024 5.091
1/31/2024 5.099
1/31/2024 5.100
2/15/2024 5.097 5.094
2/29/2024 5.095 5.094 5.095
3/15/2024 5.089
3/31/2024 5.106 5.097
4/15/2024 5.069
4/30/2024 5.085 5.086 5.073
5/15/2024 5.065 0 5.068 5.048 5.052
6/30/2024 4.993 5.031 5.023
https://www.wsj.com/market-data/bonds/treasuries?mod=md_bond_view_treasury_quotes