10-Year Treasury yields could get to 4% ‘in a hurry,’ bond fund manager predicts
While Wall Street braces for 10-Year Treasury yields to tick over 3 percent, one bond expert believes that will feel like a piece of cake compared to what may come next.
Sit Investment Associates’ Bryce Doty believes investors are in “denial” over how high rates could go this year and the painful impact it could have on stocks.
“We didn’t pierce 3 percent this time, but the next 10-Year auction in a couple of weeks is probably certain to do that,” he said recently on CNBC’s “Futures Now.” “I think it’s going to just keep going. 10, 20 basis points a month gets you to 4 percent in a hurry.”