Fidelity said that against the backdrop of continued high inflation, the yield on 10-year US Treasury bonds is still likely to rise to 6%. At the same time, due to the positive correlation between bonds and stocks, this means that bonds need to provide higher returns to attract investors. “From a tactical perspective, we still think there might be a situation where the yield hits 6%.” Salman Ahmed, Fidelity's chief investment strategist, said.

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