المنشور

#LongYields5%NewNormal Rate cuts aren't pulling long-term borrowing costs down 👀 The Fed cut 25bps, yet the 10-year returned near 5% and the 30-year stayed above it. What caught my attention is the disconnect. Short rates can follow the Fed while long yields increasingly price growth, AI capital demand, inflation and term premium independently. If 5% becomes the new floor, the real question isn't how fast the Fed cuts. It's how expensive capital stays for stocks, AI and crypto.