But if LPs are targeting a certain return, then their capital allocation could swing towards including more Treasuries when their interest rate goes up. Of cou

But if LPs are targeting a certain return, then their capital allocation could swing towards including more Treasuries when their interest rate goes up. Of course that's in a vacuum. In reality I expect many of the asset classes in their portfolio to have some dependence on Treasury rates, which perhaps would result in wider capital reallocations (or change in relative allocations going forward).