I’d say few — if any — posters here really understand what is going on here. What’s driving this is not the rising interest rates, but the FED’s ongoing reduction in its balance sheet. At its peak the FED held over $4 trillion in Treasury bills and mortgage bonds, and they’ve been reducing their holdings at a rate of $50 billion per month. The market is declining because the days of the FED subsidizing investors and homeowners are over.
Interesting...that you had no replies.