0607 GMT - The current level of bond yields is attractive for long-term investors but the uncertainty is high, says Jefferies' Mohit Kumar. "However, the conviction level on whether the next 10 basis point move would be higher or lower in 10-year U.S. Treasury yield is low," the global economist says. Jefferies has a higher conviction that central banks are not going to deliver on the amount of interest-rate hikes that are currently priced in by the market. Money markets currently price in 93 basis points of Fed rate hikes over the next 12 months, according to LSEG.