Attention all money players, the days of making money while lying down are coming to an end.

Recently, the steady players have been in the spotlight — US short-term debt yields have broken 5%. You can earn stable income without locking up your assets or taking risks, a rare good thing that hasn't happened in ten years. Large institutions like pension funds and insurance companies are finally able to breathe a sigh of relief, after ten years of zero interest rates drove people crazy. Even with high inflation, they can finally catch a break.

But now, the tide has turned. The signals from the Federal Reserve are very clear: the golden age of low-cost funding is over. Those accustomed to easy arbitrage need to recalculate. Pressure on returns is penetrating from all sides. The real test now is who can still maintain profitability going forward.