By City AM reporter [RE: Bank of England to cut interest rates to three per cent in 2025] While short-term interest rates make news, many overlook long-term rates, which are reaching levels not seen in over a decade. Over the last three quarters, there has been a rapid upward shift. Nowhere is this clearer than in 30-year Treasury bonds which, in April 2023, were trading with yields around 3.6 per cent. By late October, those yields had skyrocketed by more than a third, to over five per cent, marking their highest level in about 15 years. We believe this represents an overcorrection. Long-term…