T. Rowe Says There Are Good Reasons for the U.S. 10-Year Treasury Yield to Rise to 6%

David Clewell, co-portfolio manager of T. Rowe Price's Multi-Asset Global Income Strategy, said that the 5% level on the 10-year U.S. Treasury yield has long been an important psychological threshold for investors. Given the resilience shown by U.S. economic growth, there is a well-supported scenario in which the 10-year Treasury yield rises toward 5.5% to 6%.