A 5% World Is Repricing Global Markets
Global equities and bond markets are being forced to adapt to a world where 5% yields are no longer an outlier but a central reference point. The shift is tightening financial conditions, reshaping valuation math, and challenging the assumption that rate cuts are imminent or sufficient to revive risk appetite. Investors are now confronting a market regime in which higher-for-longer rates may be the baseline, not the exception.
