US10Y Yield is on Fire Today

We're now at 13 month high's. According to Goldman, the market is pricing in 3 rate hikes by the end of 2023. At the January FOMC meeting, just a couple months ago, only 1 rate hike was expected. This is what we've been waiting for, and what we've been discussing for months now. Rates are rising, monetary conditions are tightening, and risk is fucked. When money finally starts to flow toward debt, instead of consumer spending, M2 will crash, and take the entire global risk asset spectrum down with it. That's when we'll actually see the velocity of money increase. Unfortunately, a shit ton of debt will need to be restructured, and many, many businesses will be forced to close...