The 10-year Treasury Note yield may be on the verge of breaking out of its slump.
After stabilizing over the past several weeks, Wells Fargo Securities’ Michael Schumacher predicts the current risk backdrop will re-energize yields in the coming weeks.
He lists the Federal Reserve’s high level of comfortableness surrounding rising inflation, the massive amount of fiscal and monetary stimulus in the pipeline and the economic data’s strength.
“It’s a recipe for yields to go up and perhaps pretty significantly,” the firm’s head of macro strategy told CNBC’s “Trading Nation” on Friday.
The 10-year yield is hovering around 1.50%, falling almost 5% over the past month. But it’s up 70% so far this…