1, From a fiscal perspective, massive amounts of debt need to be issued, which requires money and subscribers, so everyone needs to keep buying, buying, buying (pension funds, insurance companies, sovereign wealth funds); 2. AI also needs money, so companies issue bonds to raise financing, and everyone needs to keep buying, buying, buying. 3. Then long-term interest rates move upward. Isn’t the basic logic above correct? So why the hell raise rates too? If this isn’t the time to inject liquidity, then when is?