Interest rates: what the voices are saying

Each voice's latest take

Every mention

• Global debt of about $350 trillion with a roughly 5-year average maturity means about $70 trillion must be refinanced each year, so liquidity is needed to enable the roll.
  NeutralRaoul Pal, Raoul Pal, Oct 25, 2026Episode summaryWatch at 4:27#Interest rates
• Liquidity leads the ISM by about six months and US interest payments lead liquidity by about three years.

  “interest payments lead liquidity by about 3 years”

  NeutralRaoul Pal, Raoul Pal, Oct 25, 2026Episode summaryWatch at 4:27#Interest rates
• CoreWeave could approach its break-even point if future borrowing costs rise into the 10%–15% range.

  “these guys are getting very, very, very close to not necessarily being able to cover all the obligations”

  BearishChamath Palihapitiya, All-In Podcast, Oct 17, 2026Episode summaryWatch at 11:11#Interest rates
• The panel said a rising 10-year Treasury yield near 5.5%–6% would damage businesses that depend on financing spreads, including AI infrastructure companies.

  “Any business model that thrives on a financing spread gets cornhold”

  Very bearishPrediction: 10-year Treasury yield at 5.5%–6%Chamath Palihapitiya, All-In Podcast, Oct 17, 2026Episode summaryWatch at 29:00#Interest rates
• The bond market is record short after the rise in yields, so the risk is a reversal and there may be an opportunity in bonds.

  “So unless you've got an unknown element coming in, your risk is actually a reversal. So maybe there's an opportunity in bonds.”

  BullishRaoul Pal, Raoul Pal, Oct 15, 2026Episode summaryWatch at 32:17#Interest rates

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