Bank of America says US 10 year yield is unlikely to rise above 5.25%!

Economists at Bank of America forecast the yield on US 10 years to 4.75% this year, but concede it could rise higher:

• could get above 5% depending on the Federal Reserve
• but unlikely to rise above 5.25%

Wow.

BoA see a strong macro economy and a hawkish Fed. Says the bar to a Fed rate hike is high though, although its possible depending on how inflation data plays out. BoA add that yields around 5% would present an attractive buying opportunity assuming CPI sticks or is a little lower.