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Replying to @HideNotSlide
In your view, how would higher rates affect subscription valuation? A secondary effect from their consumers being affected?
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Replying to @EconShiller
I think it would have 2 impacts: 1) Costs would start to overtake contracts with locked in price increases 2) At some point, a risk free 10 yr yield beats non-cyclical EPS growth no matter how sustainable. Cyclical exchanges would get more love/multiple expansion
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