"If Brexit marked a 5,000-year low in global interest rates, Trump marked the moment investors started to position for a bond bear market," Bank of America's Michael Hartnett wrote in a note to clients shortly after the election. That caused analysts on Wall Street to declare the end of the bull market in bonds. Treasury yields surged in the weeks after the election - the 10-year yield climbed about 80 basis points, to more than 2.60% - on the prospects that President Donald Trump's economic agenda would bring inflation back to the United States. In a tweet on Monday morning, Minerd said, "The next stop for 10-year Treasury yields is 2%, with the probability rising that we revisit 1.5% or lower this summer." Scott Minerd, Guggenheim Partners' global chief investment officer and head of Guggenheim Investments, the asset management arm of Guggenheim, just made a big call on the 10-year yield. Account icon An icon in the shape of a person's head and shoulders.
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