According to a report by ING Groep NV interest rate strategists Padhraic Garvey and Benjamin Schroeder, the yield on the 10-year U.S. Treasury note has averaged 4.2% over the past year and has also maintained that average over the past three years. They noted that while some macroeconomic vulnerability narratives suggest the yield needs to fall below 4%, the strategists expressed a preference for the 4.2% average trend. They anticipate the yield will move back toward that level. Based on the latest data from Tradeweb, the 10-year U.S. Treasury yield was recently quoted at 4.068%.