The current dump is on speculation of a rate increase in Jan?
just show how much the world is relying on this zero cost drugs..
i recalled in 2002~3.. after greenspan held interest rate at 1% after the nasdaq bubble.. everyone is talking about 1% being ridiculously low rates. now we are saying a double hike of 0.5%, which is half of what used to be the greenspan zero rate level, is now devastating.. 8-)
Going the other direction in China...
https://www.cnbc.com/2022/01/20/chin...ar-5-year.html
Lol, think about not too far down the memory lane, 10-11% mortgage rate pre-97 in HK and the rate vs property prices today and how market is beyond complecent about rates these days!! If 20th century was industrial revoluation, 21st is the cenruty of financial revolution/reengeneering..