FED MAY BE LOSING CONTROL OF LONG-TERM YIELDS CIFC says long-term Treasury yields are increasingly driven by forces outside the Fed’s control, including heavy government borrowing, $100+ oil, AI infrastructure spending and a global bond selloff. Last week’s rate hike reshaped the yield curve but failed to lower overall yields. Weak demand at the latest 5-year Treasury auction reinforces the risk that yields remain biased higher despite further Fed tightening.(彭博社)