ING Groep NV strategists stated in a report that US Treasury yields are projected to climb in the long term due to persistently high inflation. They noted that while the latest inflation figures released on Friday came in below expectations, the data "still indicates an inflation rate of around 3%, with the Federal Reserve likely to ease policy further."

The bank emphasized its structural (long-term) outlook, expecting the US Treasury yield curve to steepen and overall interest rates to rise. However, given the softer inflation data last week, they anticipate short-term Treasury yields will remain stable.