Abhilash Narayan

The Fed has reffirmed its view that 2.5 per cent remains the appropriate "neutral" policy rate over the long term. Currently elevated 10-year and 30-year bond yields raise the probability of a recession over the next 12 to 18 months.

The higher yields go, the further they’re likely to fall

For investors with a longer horizon, averaging into long-maturity government bonds at current yields may pay off handsomely