Long-term U.S. Treasury yields may still have room to rise but they could swing in both directions in the near term as inflation eases and the Federal Reserve nears a peak in interest rates, the BlackRock Investment Institute said on Monday.
“The repricing of Federal Reserve policy rates has been a big part of the yield move ... since the Fed’s first hike in 2022. We see the yield surge driven by expected policy rates nearing a peak,” the BlackRock Investment Institute said in a note. Benchmark 10-year Treasury yields were at around 4.7% on Monday, down from a peak of 4.887% hit earlier this month - the highest they have been since 2007.
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