30-year Treasury yield just hit 5.44% — highest since June 2004.
That's nearly a 500 basis point move from the 2020 lows. We've gone from near-zero rates to legitimate yield in under 5 years.
Longer-term debt is getting expensive. Refinancing old cheap debt is going to hurt. Companies that loaded up on low-rate bonds during COVID are now facing a completely different interest rate environment.
For context: in 2020, the 30Y was around 1%. Now it's over 5%. That's not a small adjustment — it's a regime change.
Watch how this impacts valuations, especially for growth stocks and long-duration assets. Higher discount rates = lower present values. Basic math, but the implications are real.
That's nearly a 500 basis point move from the 2020 lows. We've gone from near-zero rates to legitimate yield in under 5 years.
Longer-term debt is getting expensive. Refinancing old cheap debt is going to hurt. Companies that loaded up on low-rate bonds during COVID are now facing a completely different interest rate environment.
For context: in 2020, the 30Y was around 1%. Now it's over 5%. That's not a small adjustment — it's a regime change.
Watch how this impacts valuations, especially for growth stocks and long-duration assets. Higher discount rates = lower present values. Basic math, but the implications are real.
