Ed Yardeni, president of Yardeni Research, said he expects inf to gradually cool and that buying the US 10-year Treasury at around 5% is 'very attractive' only with relative optimism that productivity gains will push inf lower. He expects 10-year yields to trade in a 4%–5% range—closer to pre‑global‑financial‑crisis norms—and projects a 10-year inf outlook of roughly 2–2.5%. Yardeni added that a 2.5% real return would be a strong result for bond investors and that current rates have reverted to

Ed Yardeni, president of Yardeni Research, said he expects inf to gradually cool and that buying the US 10-year Treasury at around 5% is 'very attractive' only with relative optimism that productivity gains will push inf lower. He expects 10-year yields to trade in a 4%–5% range—closer to pre‑global‑financial‑crisis norms—and projects a 10-year inf outlook of roughly 2–2.5%. Yardeni added that a 2.5% real return would be a strong result for bond investors and that current rates have reverted to a long‑run normal level.