米 10年債利回り 5.1%へ
6%になるとどうなるか、解説している。
After a brief intermission, back to the regularly scheduled programming.
The 10Y Note Yield is back to its highest levels since 2023 and the 30Y Note Yield is up to 5.35%, matching 2007 levels.
Despite numerous intervention attempts by the US Treasury, nothing is working.
It is becoming increasingly clear that the only way to drive yields lower over the short-run would be an end to the Iran War and the ongoing global energy crisis.
However, over the long-run, this is a structural problem, with deficit spending and years of compounding inflation at its core.
The reality is that the era of ultra-low rates that Americans and the world became used to will not return anytime soon.
"Higher for longer" is the new normal.