The market has priced in an 80% chance of the Federal Reserve raising interest rates.

U.S. Treasury yields have returned to the 5% range.
This means that once a rate hike is implemented,
the market will see the emergence of risk-free annualized 5% profit products.
At this point, the tiny dividends from dividend assets are no longer attractive.
The tech sector, whose valuation has already soared,
dare not chase after it.
Not to mention gold, which fundamentally cannot generate cash flow,
and Bitcoin, which is entirely sidelined.
A 5% risk-free return is like a ruler,
bringing all assets that require "storytelling" to support them
back to their original form.
Capital is the most honest.
Where there is a guaranteed 5%, it will flow there.
And those assets sustained by expectations, faith, and bubbles
will face the cruelest bloodletting.
Don’t oppose the risk-free rate.
This is the simplest truth of the market.