Dominal Bunyields Are Going Higher, That Neutral Real Interest Rate

Tao: I think we're in a rina world where our real yields are going to trend higher. And over the next decade, i think that's going to change. We can have more fiscal, you know, fiscal policy doing more of the work in trying to the economy. Monitary policy becoming tighter. Huge investment in green technology both public and private. There's an underlying secular story in housing as well which is that if we're all now working from home more regularly, we can afford to live further away from the office. So there's going to be a kind of drift higher in inflation, ad drift higher in real interest rates.

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