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Mark Zandi, chief economist at Moody's Analytics, highlights a significant rise in long-term U.S. interest rates, reaching levels not seen since before the Global Financial Crisis.
He attributes this upward movement primarily to the Iran War, with the 10-year U.S. Treasury yield climbing from below 4 percent to around 4.75 percent as of last Friday.
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Zandi previously highlighted near standstill in July job growth, stating that unemployment remained low mainly due to workforce exits across sectors in recent commentary. He has also noted that worker share of economic output has declined since Y2K, as capital's share increased amid global changes such as China's entry, according to another analysis. These developments add context to his recent focus on interest rate shifts.