The Pershing Square Capital Management CEO said he did not believe the Federal Reserve could get inflation back down to its 2% target.
believes long-term Treasury yields can shoot even higher in the short run on the back of stubborn inflation.
"I would not be shocked to see 30-year rates through the 5% barrier and you could see the 10-year approach 5%," he told CNBC's Scott Wapner atThe Pershing Square Capital Management CEO said he did not believe the Federal Reserve could get inflation back down to its 2% target partly due to a resurgent labor movement and high energy prices.Sign up for NBC LA newsletters.
"Our view is that we're in a different world," the investor said."You have a generation of people that are used to rates, you know, four sounding like a high interest rate. On a historical basis, it's an extremely low rate of interest."the Federal Reserve signaledStill, Ackman said buying the 30-year Treasury bond isn't worth locking up your money for that long with inflation eating into its return.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bill Ackman says Treasury yields are going higher in a hurry, and that investors should shun U.S. government debtBill Ackman has had a good summer, with his bet on 30-year Treasury bonds paying off in dramatic fashion over the past few weeks.
Read more »
City doesn’t read water bill for 8 months, then sends 3K billOne of the biggest problems plaguing Houston water customers with huge bills are estimated meter reads.
Read more »
10-year Treasury yield touches fresh 15-year highU.S. Treasury yields were little changed on Thursday as investors looked to key economic reports and concerns about the outlook for monetary policy persisted.
Read more »
30-year Treasury yield heads for new 13-year high on U.S. data, oil pricesHealthy U.S. economic data and a rise in crude oil prices that briefly surpassed $95 a barrel triggered more selling in long-term Treasurys Thursday morning.
Read more »
Entire U.S. Treasury yield curve moves toward or above 5%, raising risk something may breakOn a day devoid of any major market-moving news, investors sent yields in the roughly $25 trillion Treasury market closer to or further above 5% on Wednesday.
Read more »
Investors embrace these Treasury ETFs despite September slump, as ‘belly’ of yield curve outperforms long endBond-focused exchange-traded funds are struggling lately, but that’s not keeping investors away.
Read more »