10-year treasuries just hit a 15 year high.  Is everyone too sanguine about this, asks Kelly Evans?  She and Joe Kernen are flabbergasted that Matt Hornbach is unconcerned by the current rate environment.  Mr. Hornbach says that the Fed is done hiking.

He states that the time to worry was last year when bond prices were falling. He also thinks that duration risk is lower this year than last year, and the Fed will cut rates next year.  Inflation will come down by the end of the year below the Fed’s PCE estimates.  Mr. Kernan jokes that Morgan Stanley has a great system – if the forecasts blow-up, it’s Ms. Zentner’s fault.