We're Back to Normal Rates, Says Ed Yardeni

Yields in the US and other advanced economies have climbed to multidecade highs, tightening financial conditions, amid higher inflation triggered by the US-Iran war and concern about budget shortfalls. Traders have pared rate-hike expectations, with the amount priced into swaps across eight major economies falling by almost 200 basis points since mid-September. Ed Yardeni, President at Yardeni Research, says rates are 'back to normal' and not 'higher for longer.'