0900 GMT - The rise in U.S. Treasury yields isn't driven by fears of runaway inflation, Ethenea Independent Investors' Joerg Held says. The yield spread between conventional and inflation-protected 30-year securities has remained stable at 2.2% for four years, the head of portfolio management says. "Consequently, the market firmly expects inflation to return to the central bank's target level," he says. However, caution remains advisable regarding U.S. Treasurys and the dollar in light of impending policy interventions, he says.