Steven Blitz, managing director of TS Lombard Global Macro and Strategy, said that given the huge supply of global government debt and insufficient political will to curb inflation, the yield on US 10-year Treasury bonds will rise to 8% in the next few years. Blitz wrote in a report that the current combination of monetary and fiscal policies will further increase inflation and yield in every economic cycle. He said that this situation has occurred in the past, and this situation will not end unless there is political will to make a determination to reduce inflation, even if short-term economic activity is impacted; he also said that the US will probably not experience this kind of transformation until 2029 at the earliest.

Steven Blitz, managing director of TS Lombard Global Macro and Strategy, said that given the huge supply of global government debt and insufficient political will to curb inflation, the yield on US 10-year Treasury bonds will rise to 8% in the next few years. Blitz wrote in a report that the current combination of monetary and fiscal policies will further increase inflation and yield in every economic cycle. He said that this situation has occurred in the past, and this situation will not end unless there is political will to make a determination to reduce inflation, even if short-term economic activity is impacted; he also said that the US will probably not experience this kind of transformation until 2029 at the earliest.