See my 10y treasury yield chart over the last 20 years and look at the MACD, which has sharply turned upwards. Higher rates? Inflation?
GG with a very interesting long-term chart for us. He is correct re the MACD turning up and crossing over. I guess a simple way to look at it is that rates in any “real” world cannot go below zero, so what cannot decline must increase. Lastly, can the current debt hog really sustain under any sort of higher rate structure? We think definitely not, or at least not for any sustained length of time…