Yields hit 14-month high; markets could 'break' at this next level - Lobo Tiggre
(Kitco News) -The 10-year yield rose to 14-month highs on Thursday at 1.75%, erasing the gains in gold price yesterday following the Federal Reserve's statements.
Lobo Tiggre of The Independent Speculator, said that without yield curve control, the 10-year Treasury note could rise to as high as 2%, which would cause the markets to "break".
Short-term, gold has more downside, he said.
"I do think yields go higher unless the Fed does something," he said. "Those rates will go higher. I'm not an economist, but from other people that I respect and listen to, it seems to me that it does go above 2%, things start breaking in a big way and that would force and that would force the Fed's hand."