Dan Ivascyn, Group Chief Investment Officer at Pacific Investment Management Company (PIMCO), has warned that the 10-year US Treasury yield could reach 6% due to three major macroeconomic pressures: elevated oil prices, sticky inflation, and the massive scale of public debt.

Technical selling and forced liquidation by hedge funds have further intensified the sharp volatility in the market, making it possible for yields to climb even higher in the near term.