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Looking at this news, and then seeing the 30-year fixed mortgage rate soaring to 7.45%, the only thought in my mind is: in this environment, how can businesses borrow any damn money? The 10-year US Treasury yield broke 5.2%, the 30-year broke 5.46%, the cost of capital is outrageously high. The Federal Reserve keeps flip-flopping on rate hike expectations, basically forcing real economy companies to die. The profits from running factories and doing R&D aren’t even enough to pay bank interest, who would dare to expand production? Once companies don’t dare to borrow or expand, the economic foundation will shrink. The Treasury’s little long-term bond repurchase is not even enough to fill the gaps against tens of trillions in debt. Don’t always expect the crypto circle to be immune. With a 5% risk-free return available, why would big money come to buy BTC and ETH? This is the fundamental reason why the market is like dead water now, and altcoins are crashing. I used to not understand macroeconomics, always betting on rate cuts and playing with high leverage, and ended up wiped out. Now I’m completely sober, the big environment is draining liquidity, and I absolutely won’t be stubborn. Holding Bitcoin and Ethereum spot like savings, never borrowing money, never touching contracts. Survive this most dangerous liquidity winter, wait until those reckless leveraged companies and individuals are wiped out, if I’m still at the table, I’ve already won. Turn off the software, drink tea to stay alive. #美债长端利率持续攀升，融资压力升温