The pandemic is easing and stimulus programs are pumping money into the economy. This has caused the yield on the10-Year Treasury Noteto rise to 1.53% from less than 1% a year ago. Given that the 10-Year Note is widely considered to be the world benchmark "risk-free rate" (rf), how does this affect asset prices, stock valuations, and the cost of equity capital? What will the 10-Year Note yield 10 years fromnow?

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The increase in the yield on the 10Year Treasury Note which is considered the world benchmark riskfree rate rf from less than 1 a year ago to 153 due ... View the full answer