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The Fed's Expected Rate Hikes on the Long End
5% on the 10 year sounds perfectly reasonable if that doesn't hike from here. There's no sense in allocating to duration when you have, you know, call it. The normalized yield curve is 150 basis points above the funds rate otherwise known as the term premium. That's fair value for the five for the five 10 year notice 5%. If we have a 3% long run inflation rate. We're for right now on the 10 years. I think over time that that's where we'd settle out.