And how often have we already experienced this historically unique event of negative interest rates, PD of Euro states, etc., during a 7-year cycle?
Everyone who at some point invented (or just learned) these models must now fundamentally rethink.
In my opinion, these theories are outdated and no longer applicable in a mechanical way, even though they are still repeated like a mantra.
PS: The thing about 5 years was also said 5 years ago. And now?
2008 was a low point, so today, after 7 years, a high point in interest rates? Possible, impossible, ww1...