Wall Street forecaster Jim Bianco expects Treasury yields to go a lot higher — and possibly overshoot through 5% in the next couple of weeks.
“I don’t think we’re near the end of this move in the bond market,” the Bianco Research president told CNBC’s “Fast Money” on Tuesday.
If the Federal Reserve hints about ending interest rate hikes while investors still sense inflation, Bianco warns they won’t buy bonds.
“That’s what I think has been killing the bond market,” he said. “The more the Fed talks about being done, waiting [and] assessing all the rate hikes they’ve done — the more that they’re making it worse.”