U.S. Treasury yields seen rangebound near term, 10-year near 5%

SEB strategist Jussi Hiljanen expects U.S. Treasury yields to stay rangebound, with the 10-year yield near 5% in coming weeks. Rotation into bonds from AI stocks and energy-price concerns has flattened the curve. Money markets price about 55 basis points of Fed hikes over 12 months, which could soften and support bonds.