Steve Hou says the simplest path to lower U.S. long-term rates is not Fed action, but ending the Iran war and cutting roughly $1.5 trillion in annual defense sp

Steve Hou says the simplest path to lower U.S. long-term rates is not Fed action, but ending the Iran war and cutting roughly $1.5 trillion in annual defense spending. He argues that would likely lower oil prices and ease pressure on 10-year yields.