Higher For Longer

The Credit Strategist Blog

My baseline forecast has been that interest rates will stay “higher for longer.” Money markets are coming around to that view with interest rates now pricing in a 4.82% Fed Funds rate at year end, a sharp jump from 4.2% two weeks ago and 3.7% after the regional bank blowup. The two-year Treasury yield was back up to 4.31% yesterday as well, its highes…