T. Rowe Price said that before the world's largest economy falls into recession, I'm afraid US Treasury yields will rise again. Arif Husain, the company's head of global fixed income, wrote in a report that yields won't actually peak unless there is a recession. The Federal Reserve may continue to raise interest rates until something goes wrong — essentially, it is a mistake due to excessive policy tightening. Husain put forward this point of view, almost two years since he first proposed that the yield on US 10-year Treasury bonds could rise to 6%.

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