(Bloomberg) -- The yield on 10-year US Treasuries will “probably” top out at 5%, according to the head of one of the world’s largest asset managers.Most Read...
-- The yield on 10-year US Treasuries will “probably” top out at 5%, according to the head of one of the world’s largest asset managers.“If you talk to our chief investment officer, she would say this is the time to start thinking about adding some duration,” State Street Corp. Chief Executive Officer Ron O’Hanley said in an interview with Bloomberg TV on Tuesday. “I don’t think anyone can call the top, but when you look at the 10-year just touching a bit over 5%, probably it is.
The spike was due to a combination of concerns over inflation and the rising cost of debt, O’Hanley said. “The Fed has a tough job. They’re doing what they need to do, which is being really focused on the data, not calling the wind too early, but pausing as they have done now.
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