So far this year, bond yields have thwarted expectations they would rise, but many analysts are sticking with their calls for a march higher.
"We are either at, or very close to, a significant turning point where yields are going to start to move decisively to the upside," said Patrick Perret-Green, senior strategist at ANZ, in a recent note. "It is now time to enter outright bearish positions."
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Analysts have been expecting bond yields, which move inversely to prices, to rise since May of last year when the U.S. Federal Reserve first broached its plan to taper its asset purchases. In response, the 10-year U.S. Treasury yield rose from 1.60 percent in mid-May of 2013 to around 3.0 percent at the start of 2014. But despite expectations it would rise further, it has retraced to around 2.52 percent currently.