We look at the bond market without fixating only on the US. Yesterday, the yield on 10-year French government bonds reached its highest level since 2002, and Lagarde directly warned that Eurozone public debt is approaching 120% of GDP.
Across the Atlantic, the yield on 30-year US Treasuries is 5.56% as well—also the highest in 24 years.
In short, globally, the price of money is rising together.
This is not a problem for a single country, but a collective reckoning by advanced economies for the years of liquidity injections.
For us, who trade, this means one thing: as long as long-term rates remain at these high levels, assets whose valuations are supported by leverage—technology in the US, and crypto assets—will constantly hit a ceiling. Pullbacks are possible, but don’t ignore this important backdrop of interest rates. $BTC
#fomcотслеживание #ПротоколFOMC #AltcoinSeasonIndexHoldsAbove60For5Days #USADPAdds90000JobsInSeptember #KospiPostsWorstQuarterSince2020
Across the Atlantic, the yield on 30-year US Treasuries is 5.56% as well—also the highest in 24 years.
In short, globally, the price of money is rising together.
This is not a problem for a single country, but a collective reckoning by advanced economies for the years of liquidity injections.
For us, who trade, this means one thing: as long as long-term rates remain at these high levels, assets whose valuations are supported by leverage—technology in the US, and crypto assets—will constantly hit a ceiling. Pullbacks are possible, but don’t ignore this important backdrop of interest rates. $BTC
#fomcотслеживание #ПротоколFOMC #AltcoinSeasonIndexHoldsAbove60For5Days #USADPAdds90000JobsInSeptember #KospiPostsWorstQuarterSince2020