Chart of the Week: A Long-Term Perspective on Long-Term Rates

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Some of us of a certain age, who recall that long-term interest rates were in double-digits not so long ago, can’t help but assume that the current, lower-rate environment is something of an anomaly, and are waiting for a reversion to the mean to start any moment. According to the New York Times, we may be waiting for awhile. Viewed in the perspective of 200 years, today’s low long-term rates may not be as low as we think.