00:00If there's a lot more investment going into data centers, hundreds of billions of dollars, even a trillion dollars that
00:06wasn't there five years ago, all else being equal, rates are going to be higher because that's how capital has
00:13to flow to that sector of the economy.
00:15And so I don't have any forecast of where the 10-year yield is going. My guess is it's been
00:21sitting pretty flat around 4% for reasons outside of the Fed. My best guess is it'll probably stay there.
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