The financial market often goes against common sense: Rewind to 5 years ago, when the pandemic just started, the Fed was crazily hiking rates to 5 points. Back then, everyone said high interest rates couldn’t last long, as if they’d drop to 1% by the next month. Fast forward 5 years, oil prices got messed up by Trump, and now inflation is about to rebound again. Now Trump is telling the Fed not to cut rates. I think this high-interest US Treasury volatility range could last until 2030