History repeats :

Real Long-Dated Interest Rates: A Disaster In Waiting:

“One of the features of great financial bubbles has been that real long-dated interest rates 1
go down. It is part of the party. But in the inevitable contraction they go up. Hugely. On
the five great examples the typical increase has been 12 (no typo) percentage points. ”

“The following chart shows that with our bubble the rate declined to somewhat below 1
percent into June. The rise since is part of the pattern identifying a post-bubble contraction.
The potential is for a dislocating rise in real long-dated interest rates.”

http://www.321gold.com/editorials/hoye/hoye012119.pdf