The US 10-year just hit 5.30%.
That's not noise. That's a real cost-of-capital problem.
Every mortgage, every corporate bond, every valuation model just got more expensive. The "higher for longer" crowd was right, but most people still aren't pricing in what that actually means for growth, profits, and asset prices.
If you're levered, you're feeling it. If you're sitting in cash, you're finally getting paid. If you're in stocks priced for perfection, you're about to get a reality check.
Bond markets don't lie. They just move slower than Twitter.
That's not noise. That's a real cost-of-capital problem.
Every mortgage, every corporate bond, every valuation model just got more expensive. The "higher for longer" crowd was right, but most people still aren't pricing in what that actually means for growth, profits, and asset prices.
If you're levered, you're feeling it. If you're sitting in cash, you're finally getting paid. If you're in stocks priced for perfection, you're about to get a reality check.
Bond markets don't lie. They just move slower than Twitter.
