Before the election, you had a soft landing scenario where we believe growth slows, inflation falls and the Fed cuts rates. Now that may not happen right away, but will happen in the distant future.
US 10-year Treasury yield tops 19-month high as oil prices fuel rate-hike bets
US Treasury yields rose significantly, with the 10-year rate exceeding 4.75 percent. Rising oil prices and persistent inflation fueled expectations of a Federal Reserve rate