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Federal Reserve: Declining Appeal of Government Bonds Leads to Rise in “Natural Interest Rate”

Federal Reserve: Declining Appeal of Government Bonds Leads to Rise in “Natural Interest Rate”

华尔街见闻华尔街见闻2026/02/25 18:50
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The decline in the “safety” and “liquidity” appeal of government bonds is the main reason, contributing to about 50% of the increase in interest rates. In addition to the reduced attractiveness of government bonds, the outlook for productivity growth driven by artificial intelligence (AI), as well as the surge in the ratio of government debt to GDP in various countries, are also important factors pushing up interest rates. Expand
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