The most important question in the financial markets today is whether bond yields will keep rising and how high they will go. If you untangle the forces driving the market, it is reasonable to see 10-year Treasury yields at 3.5% at the end of the year. That prediction won’t be precisely correct, of course, but just trying to understand what could push up yields and how that would play out in other markets is a crucial exercise right now. The first two weeks of 2018 have brought rising yields to the front of investors’ minds...

Source: Wall Street Journal January 15, 2018 13:30 UTC