With interest rates on the rise, why are speculators still so active?

With interest rates on the rise, why are speculators still so active?

The ongoing mystery is why speculation remains rampant in the bull market, even with easy money seemingly over. While exuberance made sense during last decade’s near-zero rates, the Federal Reserve raised interest rates from almost zero to nearly 5% in 2022. Yet, after a brief slowdown, speculative activity has surged again across various US asset classes, particularly driven by AI and memecoins.

Source: https://www.ft.com/content/ec452f8e-f2ad-4c98-a150-9eff84b0c692#comments-anchor