As benchmark U.S. Treasury yields hit their highest level in more than a year amid fears about an unwinding of monetary stimulus, analysts say there's no reason to fret about the back-up in bond yields since the move is likely to be accompanied by the U.S. economy finally getting back on its feet.
Bond yields soared on Wednesday after the U.S. Federal Reserve suggested that it could start to unwind its monetary stimulus for the economy later this year.
The benchmark 10-year Treasury yield rose to about 2.38 percent on Thursday, its highest level in more than a year, and many analysts expect it to reach 3 percent by the end of the year.
"When the economy is operating normally, meaning you are close to full employment and the economy is growing close to potential, the 10-year U.S. Treasury yield should be around 4.5 to 5 percent, and so even with today's [Wednesday's] sell off we have a long way to get back to normal," said Mark Zandi, chief economist at Moody's Analytics.
"But normal is good – it would be good to get back to full employment and have an economy growing at potential, so I would take a 4.5 to 5 percent yield on the long bond if that comes with a 5.5 percent unemployment rate," he told CNBC Asia's "Squawk Box."
The U.S. unemployment rate is at 7.6 percent and the Fed has said it would keep interest rates near zero until unemployment drops to 6.5 percent and inflation rises to 2.5 percent.
(Read More: After the Fed – What's the Market's Next Move?)