Last updated Nov 29, 2025
Prediction
Chamath
Over the next decade, the fair or market‑clearing yield on U.S. government debt (such as the 10‑year Treasury) is likely to rise significantly above 4%, and could end up in the 6–8% range for a sustained period.
is it reasonable that the market clearing price for government issued debt over the next decade is 4%? I mean, my gosh, it could easily be 6%. It could easily be 7 or 8%.View on YouTube
Explanation

The prediction is explicitly about the next decade after October 25, 2024, i.e., roughly through October 2034. As of today (November 30, 2025), only a bit more than one year of that 10‑year window has passed, so we cannot yet know whether U.S. Treasury yields will spend a sustained period in the 6–8% range.

What we can observe so far is that the 10‑year U.S. Treasury yield in late 2025 is around 4.0%: recent data show it at about 4.0–4.1% in November 2025, below both the historical long‑term average (~5.8%) and well below the 6–8% band Chamath mentioned.

  • YCharts reports the 10‑year at 4.01% on November 25, 2025, with commentary that this is under the long‑term average of 5.82%. (ycharts.com)
  • TradingEconomics/Fed data similarly place the November 2025 10‑year constant‑maturity yield around 4.0%. (tradingeconomics.com)
  • Other market commentary through mid‑2025 also discusses 10‑year yields in the mid‑4% area, not near 6–8%. (pnccapitaladvisors.com)

However, the core claim is about where the fair/market‑clearing yield ends up “over the next decade,” and specifically whether it could be stably in the 6–8% range for a meaningful period. Since most of that decade is still in the future, we cannot yet label the prediction as right or wrong; it is simply too early to tell.