Billionaire hedge fund manager Bill Ackman believes long-term Treasury yields can shoot even higher in the short run on the back of stubborn inflation.
"I would not be shocked to see 30-year rates through the 5% barrier, and you could see the 10-year approach 5%," he told CNBC's Scott Wapner at the CNBC Delivering Alpha Investor Summit on Thursday in New York City.
"You have a generation of people that are used to rates, you know, four sounding like a high interest rate.
The benchmark 10-year Treasury yield hit a 15-year high this week, topping 4.65%, as the Federal Reserve signaled higher interest rates for longer this month.
The 30-year rate last traded around 4.71%.
Persons:
Bill Ackman, CNBC's Scott Wapner
Organizations:
CNBC, Alpha, Pershing, Capital Management, Reserve, Treasury, Federal Reserve
Locations:
New York City