• We are still finding our way around,” AmeriVet’s Gregory Faranello says. He is uncertain about the path for the benchmark 10-year Treasury yield. “Do I think we have a shot to still test 5%? I think the answer has to be absolutely yes.” But he also sees a possible move lower depending on the Fed’s assessment of how tariffs and other policies are driving inflation. “There’s definitely going to be some volatility.”

Ahead of the first Fed meeting during the new Trump administration, markets expect Chair Powell to shed some light on how the Fed may react to tariffs and other policies. “We are still finding our way around,” AmeriVet’s Gregory Faranello says. He is uncertain about the path for the benchmark 10-year Treasury yield. “Do I think we have a shot to still test 5%? I think the answer has to be absolutely yes.” But he also sees a possible move lower depending on the Fed’s assessment of how tariffs and other policies are driving inflation. “There’s definitely going to be some volatility.” The 10-year is at 4.57%.