On: The world’s empty office buildings have become a d...

[mywittyname]

It's not absurd at all when you consider that T-Bonds are the foundation of our banking system. Plus, there's no fundamental reason we price bonds the way we do.

The risk of this exact scenario playing out across the banking sector is likely the reason why the Fed took so long to raise rates (and the drastic, reversal of course when they tried in 2018).

[mlyle → mywittyname]

> Plus, there's no fundamental reason we price bonds the way we do.

Discounted cash flow analysis / net present value is the one thing that we have in finance that's really a fundamental/intrinsic thing.