Analyst: 30-year U.S. Treasury yield rising to 6% is "unavoidable"

Earl Davis of BMO Global Asset Management said he believes a break above 6% in the U.S. 30-year Treasury yield is "inevitable," and it could happen as soon as October, as volatility in the bond market is creating a loop that is pushing yields even higher. "Why is it inevitable? The market can usually only focus on one thing at a time, whether it's inflation, economic growth, or other factors affecting interest rates," Davis added, noting that investors are now "really focused on interest rates themselves."