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Culture War Roundup for the week of March 6, 2023

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To explain this relationship further to the layman audience, let's say the interest rate (which is directly related to yield) on Treasuries is 0% (and for simplification, that's the only other investment option, and the market doesn't price in any potential for that interest rate to change), and you buy a $100 bond that promises to pay 2% interest over the next 30 years. You're buying the bond and anticipating getting $182 at the end of 30 years!

The day after you buy the bond, the interest rate on Treasures gets raised to 5%. Now, in order to get $182 in 30 years, someone can just buy $42 worth of Treasuries today. So your "bond" is now worth less than $42 -- because why would they buy your bond when they could buy the Treasuries instead?