One-time bond king Bill Gross believes Treasury yields have the potential to shoot even higher in the short run.
Widely followed investor Bill Gross believes Treasury yields have the potential to shoot even higher in the short run.."The market certainly is oversold at the moment in anticipation of Treasury supplies, in anticipation of higher for longer in terms of the Fed."The benchmark yield has surged in the past month to touch 4.8% as the Federal Reserve pledged to keep interest rates at a higher level for longer. The 30-year Treasury yield hit 4.9% Tuesday, also the highest since 2007.
Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly"I think maybe 5% caps it for the near term. It depends, of course, on inflation, depends on economic growth," the former chief investment officer and co-founder of Pimco said.Gross, once known as the bond king, believes that the Fed's aggressive rate hikes undertaken since March of last year have had a significant effect on the yield curve.
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