One of the surest bets when the Federal Reserve began cutting interest rates was for bond prices to rise while yields came under pressure, but that hasn't played out according to plan.
This market, which has defied so many historical patterns, has kept the pressure on bond yields up due to a variety of factors, including more persistent concerns about the federal deficit.
But her bigger concern remains on the bond side of the markets.
She said investors will be "more wary" given the election rally and the pulling forward of expectations about tax cuts and regulation and expectations they will contribute to growth.
But it is in the bond market where investors should expect even more volatility.
Persons:
hasn't, Donald's Trump, Anne Walsh, Nelson Peltz
Organizations:
Federal Reserve, Guggenheim Partners Investment Management, CNBC's, Alpha, DA
Locations:
New York City