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Kristina Hooper (Man Group) says the selloff is a reality check that the Iran war is lasting and US inflation will be higher for longer
I think it's a long time coming, but markets had to really believe the war in Iran would last longer than just a few months. If there's just a reality check, coursing through the stock market right now, inflation is going to be higher for longer.
Kristina Hooper of Man Group tells CNBC the 10-year Treasury yield will easily reach 5% this year, possibly within the next month, which weighs on long-duration equities like tech.
I think where we're headed is higher yields. I think we're going to easily get to 5% on the 10 year. Absolutely this year. And I think it could happen within the next month easily.
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