What would trigger a real correction in asset prices?

We know that there are two very different regimes: One where the risk-free long-term interest rate plus the risk premium corresponding to the asset class analysed is lower than the long-term nominal growth rate; in this regime, actuarial calculations can no longer be made, and the value of an asset (equities, real estate, companies) can be arbitrarily high; Another where the risk-free long-term interest rate plus the risk premium is higher than the growth rate: this makes it possible to assess the fundamental value of the assets. If the rise in long-term interest rates leads to a shift from the first regime to the second, then asset prices may fall. This would happen if 10-year interest rates rose to: Above 2% in the United States; Above 1.25% in the euro zone. The war in Ukraine has pushed long-term interest rates down and away from the danger zone of a change of regime .