Gunnet Dingella, head of US interest rate strategy at BNP Paribas, said that the Federal Reserve raised interest rates and released hawkish guidelines on Wednesday, but this move was “not enough to stabilize long-term yields.” He predicted that the 30-year US Treasury yield would hit the highest level since 2002. Dingella and James Eggelhoff, the bank's chief US economist, wrote in a research report: “We believe that the Fed's current action is a strong response to market concerns about the credibility of its policies. Currently, 'the credibility of the Fed's policy can no longer be viewed as a reason to look at the upward trend in long-term yields.” The bank recommended that customers directly short 30-year US Treasury bonds.

Gunnet Dingella, head of US interest rate strategy at BNP Paribas, said that the Federal Reserve raised interest rates and released hawkish guidelines on Wednesday, but this move was “not enough to stabilize long-term yields.” He predicted that the 30-year US Treasury yield would hit the highest level since 2002. Dingella and James Eggelhoff, the bank's chief US economist, wrote in a research report: “We believe that the Fed's current action is a strong response to market concerns about the credibility of its policies. Currently, 'the credibility of the Fed's policy can no longer be viewed as a reason to look at the upward trend in long-term yields.” The bank recommended that customers directly short 30-year US Treasury bonds.