Subject: Interest Rates Higher / Longer?
Medium and Long bonds jumped over the last few weeks as the bond market seems to have bought into a belief that interest rates will stay higher longer than previously anticipated.

This is rough on Upstart, given it devalues the loans they have on the books, so expect a some sizable losses on that front.

It also means more potential customers will be priced out by higher interest rates, or potentially not even being offered a loan due to the interest rate cap preventing Upstart from pricing loans as high as might be called for by a customer's risk profile and prevailing rates.

This is not news for the stock market, which has crushed UPST down from $72 to $23 per share since August. Brutal. Market cap is below $2 billion for a company that earned $135m in 2021.

Seems like inflation is coming under control nicely, so I don't understand/agree with the apparent judgement of the market that interest rates will stay high long term.

Still hanging in there with my UPST, hoping for some decent news from UPST to go with the expected financial bloodbath.