1. When does something really break?
assuming it is a combination of how high fed funds gets above X% for Y # of months.
(e.g.) 2 months above 6.25%
fwiw Most of us were wrong in underestimating how much they could raise rates before something really breaks.
2. Are pension funds hiding how much they are now behind the 8-ball with bonds and stocks down so much the last 14 months?