Significance of Rising Treasury Yields

From the debt ceiling to the Federal Reserve's next move in monetary policy, there are myriad headlines in the macro environment that have the potential to influence the financial markets, but Zed Francis has a more simplified take. What matters most to markets right now, Francis says, are interest rates: "Follow rates, don't make it more difficult than it needs to be... when rates are moving those will be the main driver of asset prices across the board." Here Francis gives his outlook for the Fed's monetary policy going into the last three months of 2021 as well as his expectations for fiscal policy and spending.