US Treasury yields have risen sharply in the last four weeks with 10 year yields higher by about 50 bps

US Treasury yields have risen sharply in the last four weeks with 10 year yields higher by about 50 bps. While the economic data has improved in places, the prices have moved much more than the facts. What this recent yield back-up boils down to is that the market is expecting self-sustaining, above trend GDP growth to come â?? this is hope and not the result of careful analysis. No matter where it ultimately peaks, we expect see new low yields in the Treasury market before this cycle is over. (VIEW LINK)