“You look at the stars that have lined up, they have all lined up for higher long end rates. So, a lot a lot of what’s going on is actually out of the Fed’s control, but, nonetheless, they have taken note of this and are writing very explicitly about some of this long end, the rise in long-end yields that we’ve seen throughout the course of this summer, taking the place of tightening, which from our perspective makes sense.”

Get your updates each week with Gregory Faranello, CFA–Head of U.S. Rates at AmeriVet Securities.