Treasury yield comeback is real, and the 10-year could hit 1.5% within months, Wells Fargo says

Wells Fargo Securities’ Michael Schumacher sees the Treasury yield rally picking up momentum. With the Federal Reserve policy meeting on interest rates underway, the benchmark 10-year Treasury Note yield is edging closer to striking 1%. “We think in the next month, maybe two on the outside, you’ll see the 10-year top 1% and it should be comfortably above that level by the end of the year,” the firm’s head of macro strategy told CNBC’s “Trading Nation” on Tuesday. Over just the past week, the 10-year yield has surged 21%. On Tuesday, it closed at 0.824%. Due to the improving economic backdrop, Schumacher believes yields have quite a bit more room to go.
(Read more: CNBC – Bonds)