Wells Fargo gives bearish bond outlook, cites supply chain bottlenecks and inflation as key risks

(CNBC) Inflation, whipped up by the supply chain crisis, will push bond yields higher over the next several weeks, according to Wells Fargo Securities’ Michael Schumacher. The firm’s head of macro strategy believes the benchmark 10-year Treasury Note yield could reach 1.9% before year-end — a 23% jump from Wednesday’s close.

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