U.S. 10-Year Yields Will Be in 3%-3.5% Range, Pimco’s Mead Says

(Bloomberg) — U.S. 10-year Treasury yields will be in the 3 percent to 3.5 percent range for the rest of the year, Robert Mead, co-head of Asia-Pacific at Pacific Investment Management Co., said at the Bloomberg Invest summit in Sydney.

“We do think this hiking cycle is quite well advanced,” Mead said. “We also know that the backdrop of the U.S. economy has been pretty strong and going for a long time. At some point we will find these high yields will become an impediment for growth.”

The 10-year U.S. Treasury yield has topped 3 percent and reached the highest since 2011 on Tuesday as inflationary concerns increase and the Federal Reserve is on a path of raising interest rates. The yield on the 10-year note topped out at 3.093 percent and was at 3.072 percent in Asian trading.

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