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Higher Rates Are Already Doing Damage. Stocks Haven’t Reacted Yet
September 29, 2026 — Interest rates have moved sharply higher, but the stock market still appears remarkably calm. Zach Abraham argues that underneath the headline indexes, the damage from higher borrowing costs is already showing up.
Zach breaks down why higher rates matter far beyond the bond market — from housing and commercial real estate to refinancing costs, private equity, private credit and corporate cash flows. His concern isn’t that every one of those areas is about to collapse. It’s that higher financing costs mechanically reduce asset values and put pressure on businesses even…
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