@njdevil419 historical yield on a 10Y treasury is CPI + 2-3%. Absent the radical Fed intervention that was designed to artifically lower interest rates across the entire yield curve - rates would be much higher. Central Bankers are talking about an era of low rates as if it is some random phenomenon & not a deliberate policy action. We've stepped away from Capitalism in a major way and totally distorted societies - especially in the developed world. The entire incentive system has been re-worked so that financial engineering is prioritised over everything else. No such thing as a soft landing from here.