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Open original source ↗Interest rates are gravity. Two reasons for rate spike in the last 60 days - what % causation do you assign to each? (1) economy stronger (Q3 Real GDP 3.1%) & risk of higher inflation w Trump tax cuts; (2) bond vigilantes worried that Trump / @DOGE will not cut $2 T deficit?
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"Interest rates are like gravity in valuations. If interest rates are nothing, values can be almost infinite. If interest rates are extremely high, that's a huge gravitational pull on values." WB https://t.co/AjeCAoKIBX
trengriffin ↗