Has the era of 5% interest rates arrived? Risk assets: We are suddenly less attractive

If the market is compared to a talent show, now the rules have changed.
Previously, judges only looked at "potential";
Now they also consider "stability".
A 5% risk-free return is equivalent to setting a "passing line" for all assets.
If you can't reach it?
Sorry, you're directly eliminated.
This is a big problem for highly volatile assets.
Because they must prove:
Their returns are worth taking the risk.
Otherwise, capital will leave.
But here’s a twist—
When everyone starts to be cautious, real opportunities are brewing.
Because the market overreacts.
To sum up:
The higher the interest rate, the more rational the market; but opportunities are often hidden where rationality goes overboard.
#美债收益率破5%