Wall Street collectively changed its tune overnight! KKR expects "higher for longer" interest rates to persist until 2029, betting the 10-year Treasury yield will break above 5.1% by year-end.

Zhito Finance APP has learned that U.S. private equity firm KKR has raised its forecast for long-term U.S. Treasury yields and said it expects the Federal Reserve to keep its benchmark interest rate above the level previously envisioned, citing Fed Chairman Warsh's concerns about persistently high inflation.