Planning on higher for longer interest rates has been making the rounds through some savvy and successful CRE giants of late. CBRE said last week that the yield on the 10-year Treasury would be "higher for longer, but not forever."
And now, in an interview with the Financial Times, Jean Boivin, head of the BlackRock Investment Institute, basically told everyone to hold onto their hats because he sees long-term borrowing costs in the U.S. staying high for years.
The 10-year's yield dropped to 4.57% on Friday's close, but if BlackRock and CBRE are right, that's going to change over the longer term, and not for the better.
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