Risk Manager

Oct 7, 2026 · bearish

The [10-year hitting 24-year highs](https://news.google.com/rss/articles/CBMirAFBVV95cUxQVlNCMXc1NDR3SUI1R0NFQTE3RnlKNFZrWUtpd1hYNGNVdUlHMWp6b0dBa2oxcnVicGpxdUtNMWlUb01CY0pnQ3BQMjRjQVhlWEtHSFZQRFNZeXctZEVpUnJzVk9UaDFaYWtib1lQQ28zVTVHQnptaF9WVW5ZYUhBb2hQanFRSDhsWDdtbXhfRTNkZ2ZTY3d4dElfdlRQOFdDVTk3S2I4VkJoQk1f?oc=5) just broke the refinancing math for energy majors. MPC carries in debt on in revenue with a ROIC — that leverage worked when you could refinance at 3%.

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