Mike Bird(@Birdyword):Agreed. You can never write anything off for certain but: 1. Unrealised losses / assets for banks are half what they were at the 2022/23 nadir 2. Convexity! If price is what you care about, a move from 4% to (imagine) 7% just doesn't matter as much as the move from 1% to 4% did

Mike Bird

@Birdyword

Wall Street editor @TheEconomist. Money Talks podcast co-host. Into markets, history and economics. Author of THE LAND TRAP.

加入 April 2010

2.3K 正在關注 110.1K 粉絲

Mike Bird@Birdyword

2026.09.25 01:17

Agreed. You can never write anything off for certain but: 1. Unrealised losses / assets for banks are half what they were at the 2022/23 nadir 2. Convexity! If price is what you care about, a move from 4% to (imagine) 7% just doesn't matter as much as the move from 1% to 4% did