Fed to Repeat 2022-Style Rate Hikes? BofA Warns Rates Could Return Above 5%, Recommends Shorting Two-Year Treasuries

According to Zhitong Finance APP, Bank of America strategists believe it is time for investors to prepare for the risk that the Federal Reserve will raise its benchmark interest rate above 5%. The team led by Mark Cabana and Meghan Swiber said the rates market still underestimates the terminal point of the hiking cycle that began this week, and urged clients to position for further upside in two-year Treasury yields.