#美国30年期国债收益率触及2004年来最高
👉 长端利率是新锚
30-year US Treasury yield has touched the highest level since 2004.
Last time, many people hadn’t entered the market yet.
Long-end yields are the anchor for asset valuation.
When the anchor is raised, all assets are repriced.
The 10-year yield isn’t idle either.
As the curve steepens, it suggests the market is pricing the fiscal outlook.
The pace of issuing debt shows no sign of slowing down.
But buyers are still picking their price.
Longer-dated bonds will only be taken if the interest rate is higher.
The probability of the Federal Reserve raising rates in October has reached 69.7%.
As rate expectations move together, both stocks and crypto face pressure.
Even gold couldn’t catch the safe-haven demand this time.
A dwindling number of buyers for long bonds is a slow-moving variable.
It won’t blow through prices in a single day.
It will keep pressing against the upper bound of valuation.
The duration of both stocks and crypto isn’t short.
Selling will be amplified.
This position wasn’t built overnight.
For crypto, if long-end rates don’t turn back, any rebound can only be a rebound.
Do you think this round’s rate peak is already behind us? Let’s discuss in the comments.
👉 长端利率是新锚
30-year US Treasury yield has touched the highest level since 2004.
Last time, many people hadn’t entered the market yet.
Long-end yields are the anchor for asset valuation.
When the anchor is raised, all assets are repriced.
The 10-year yield isn’t idle either.
As the curve steepens, it suggests the market is pricing the fiscal outlook.
The pace of issuing debt shows no sign of slowing down.
But buyers are still picking their price.
Longer-dated bonds will only be taken if the interest rate is higher.
The probability of the Federal Reserve raising rates in October has reached 69.7%.
As rate expectations move together, both stocks and crypto face pressure.
Even gold couldn’t catch the safe-haven demand this time.
A dwindling number of buyers for long bonds is a slow-moving variable.
It won’t blow through prices in a single day.
It will keep pressing against the upper bound of valuation.
The duration of both stocks and crypto isn’t short.
Selling will be amplified.
This position wasn’t built overnight.
For crypto, if long-end rates don’t turn back, any rebound can only be a rebound.
Do you think this round’s rate peak is already behind us? Let’s discuss in the comments.
