Bloomberg Intelligence Chief US Interest Rate Strategist
·tracked since Apr 2026
899
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30-year Treasury yields are likely to fall to around 4.75% over the next six months, as real yields on 30-year TIPS appear capped at 3% and there is no expectation for a significant increase in long-term inflation expectations.
A Fed hold next week would be the big surprise and would likely hit the bond market negatively. In that scenario, the recent curve flattening would reverse, and the 10-year Treasury yield could make new highs and test the 5.02% level, implying lower 10-year Treasury prices.
The Bank of Japan's balance-sheet rolloff and move from deeply negative to positive interest rates is forcing a synchronized repricing across developed market yields. The U.S. is no longer pricing in a vacuum, so global developed sovereign yields are rising together in a fundamental shift.
If the Fed delivers a serious commitment to 2% with additional hikes, the market will price slower economic activity and yields should eventually move lower; 5% on the 10-year is not the end of the world, and after a near-term high, Treasury prices are expected to rally with yields falling over the next two to three months.
Fed communication uncertainty lifts Treasury yields
Kevin Warsh's non-incremental change in Fed communications, cutting the post-meeting statement from about 400 words to 100 words with no forward guidance, has left the market confused and is increasing risk premium across the Treasury curve, especially in 10- and 30-year maturities.
Ira Jersey has 5 trade ideas tracked on Buzzberg across 3 tickers since April 2026. Ranked #899 on the Buzzberg Alpha leaderboard. Most covered: TLT, IEF, US10Y.
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