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Below are some of the most interesting articles, quotes and charts I came across this week. Click here to subscribe to our free weekly newsletter and get this post delivered to your inbox each Saturday morning.

Rising interest rates have historically created problems for certain areas of the economy and markets but they may be especially pernicious today given both the speed and magnitude of the rise and the risk-taking behaviors engendered by the extreme monetary accommodation that preceded it.

Certainly, that debt accumulation at the corporate level that was inspired by ultra-low interest rates could prove to be a problem in the quarters ahead as debt maturities grow and interest rates have reset at much higher levels than when those debts were first taken on.

In addition, rising interest rates already appear be causing problems in the market for long-term treasuries.

But the stock market has only just begun to recognize the fact that “risk-free” rates now represent real competition for investor capital for the first time in over a decade.

And if the rapid rise in rates ends up exerting its normal effect on the economy and earnings in the quarters to come, then this recognition process in equities has only just begun.

Thanks for reading and have a great weekend!