Edward Al-Hussainy, total return bond portfolio manager at Columbia Threadneedle Investments, expects long-term US Treasury yields to remain elevated, criticizing the Federal Reserve’s communication strategy as « extraordinarily muddled ». As of June 30, 2026, the 10-year yield stood at 4.44 % and the 30-year yield at 4.93 %. Al-Hussainy attributes this situation to structural factors including growing fiscal deficits, relentless government debt issuance, and an expanding term premium. This environment challenges the appeal of risk assets like Bitcoin, which must now compete with nearly risk-free yields approaching 5 %.
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