Slower Growth To Keep a Cap on Long-Term Yields

There is about a 50/50 chance the Fed will raise by 50 basis points, says Charles Schwab's Kathy Jones. I am not too surprised at 2% in the 10-year and not too surprised to see the yield curve flatten, she says. She discusses that fiscal stimulus is 10 or 11% of GDP and we started with negative real yields, which has contributed to the rise in rates. While inflation is still high, we see it coming down later in the year and growth slowing, she adds.