Just a note on Jane Street in particular—nobody at Jane Street is making a potentially multi year bet on interest rates with Jane Street money. That’s simply not in the category of things that Jane Street trades. If someone at Jane Street wanted to make betting on this a significant part of what they do, they’d have to leave and go elsewhere and find someone to give them at least hundreds of millions of dollars to make the bet.
Just a note on Jane Street in particular—nobody at Jane Street is making a potentially multi year bet on interest rates with Jane Street money. That’s simply not in the category of things that Jane Street trades. If someone at Jane Street wanted to make betting on this a significant part of what they do, they’d have to leave and go elsewhere and find someone to give them at least hundreds of millions of dollars to make the bet.