Financial Cycle (not Economic Cycle) - Chu kỳ tài chính

Financial cycle:
- 10Y down and sideway -> Gold up (*)
+ In phase (*): In 10Y down -> capital will flow to manufacturing, Real estate, industrials, etc.
- 20Y up and reaching top -> Gold down and sideway (**)

Correlate with unemployment rate:
- Rise stronger as the (**) reach its ending and vice versa

US10Y:
- Interestingly, interest rate does not affect how businesses operate and innovate economically. In fact, rising interest in long-term -> Economy doing great, innovations prosper, allowing lenders to charge high