The Decision-Making Behind S.V.B.'s Failure

The scale of S.V.B.'s bond investments, the length of the maturities and the extent of the Fed's interest rate hikes put it at risk. The rapidity of the withdrawals caused the problem to run far ahead of the solutions. In that two-year period, the yield on the 30-year treasury ranged from 0.99% and 2.45%. How could anyone have thought rates that low were more likely to hold steady or fall than rise?