No asset class has immunity from asset price revaluation in a rising interest rate market, and certainly housing doesn't. Container shipping freight rates fell sharply again last week, down -5.1% from the prior week to be 65% lower than year-ago levels. The UST 10yr yield starts today down -2 bps from yesterday at 4.62% but essentially holding its recent high. This is a new low since February 2023, all driven by the sharply rising yields. The bitcoin price has moved sharply higher today from yesterday, and it is now at US$27,191 up a strong +3.7% from then.
