(https://www.marketwatch.com/story/the-treasury-market-is-on-the-verge-of-a-worrying-milestone-not-seen-since-2007-81158082?mod=mw_rss_topstories) its longest stretch above 5% since 2007 — and the consensus narrative is that *this saves the bull market*. It doesn't. Costco is the canary here: they posted 3.1% net margins and 9.7% revenue growth last year, generating $6.9B | $207.43B (Q3 FY2026 10-Q) :: Annual Revenue: $207.4B] in free cash flow while maintaining a 1.6x debt-to-equity ratio.

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