The dollar's sharp rise is boosting US stocks, driven by a global bond selloff that has sent yields soaring. The 30-year Treasury yield approached 5%, while currency hedging costs rose across maturities. Traders are positioning ahead of Friday's US payrolls report, driving demand for short-dated options. This surge in the dollar is having a mixed impact on various markets, including commodities and currencies. As a result, investors are looking to gauge the implications of this shift in market sentiment.