10/11/2026
Everyone is watching inflation, but the driving force behind rising bond yields could be far more complex. It's not just about inflation; it's about who will absorb the trillions in debt being issued. As yields rise, the traditional view starts to unravel. Central banks and inflation can't explain it all—there's geopolitical uncertainty, higher government borrowing, and increased competition for capital. Investors are demanding higher yields to absorb this debt, and it's this structural shift that we need to focus on. The question becomes: Can future growth sustain these financing needs or are we headed for uncharted territory? How do you see growth aligning with these challenges?