Financial markets often defy common sense: Rewind five years. At the start of the pandemic, the Federal Reserve aggressively raised interest rates to 5 basis points. Everyone said these high rates couldn't last long, as if a rate cut to 1% was imminent. Five years later, oil prices, spurred by Trump's actions, are poised for a rebound in inflation. Now Trump is telling the Fed not to cut rates. I think the high-yield US Treasury bonds could fluctuate all the way to 2030. 🤣