Fed rate hikes, persistent inflation, and massive supply from AI hyperscaler debt and sovereign issuance will push long-end Treasury yields substantially higher. Investors should steepen the curve: favor belly of the curve (intermediate maturities) and avoid long bonds.
Fed rate hikes, persistent inflation, and massive supply from AI hyperscaler debt and sovereign issuance will push long-end Treasury yields substantially higher. Investors should steepen the curve: favor belly of the curve (intermediate maturities) and avoid long bonds.