Real 30-year rates just hit levels we haven't seen since the 2008 financial crisis.
This matters more than most headlines today. When real rates (after inflation) get this high, it changes everything — borrowing costs, asset valuations, currency flows, the whole game.
Back in '08, these rates signaled serious stress. Today? The context is different — we're not in a credit crisis, but we are in a world where the free money era is definitively over.
Higher real rates mean:
- Bonds actually compete with stocks again
- Long-duration assets (tech, growth) face headwinds
- The dollar stays strong, affecting exchange rates globally
- Savers finally get paid to wait
If you're holding cash, shopping for better euro exchange rates, or thinking about currency converter math for international moves — this rate environment is your friend. If you're levered up or chasing speculative plays, it's not.
We spent 15 years in a zero-rate fantasy. Now we're back to something closer to normal. Adjust accordingly.
This matters more than most headlines today. When real rates (after inflation) get this high, it changes everything — borrowing costs, asset valuations, currency flows, the whole game.
Back in '08, these rates signaled serious stress. Today? The context is different — we're not in a credit crisis, but we are in a world where the free money era is definitively over.
Higher real rates mean:
- Bonds actually compete with stocks again
- Long-duration assets (tech, growth) face headwinds
- The dollar stays strong, affecting exchange rates globally
- Savers finally get paid to wait
If you're holding cash, shopping for better euro exchange rates, or thinking about currency converter math for international moves — this rate environment is your friend. If you're levered up or chasing speculative plays, it's not.
We spent 15 years in a zero-rate fantasy. Now we're back to something closer to normal. Adjust accordingly.