Trying to Predict Interest Rates? Good Luck.

As 2023 began, inflation was elevated, US policy makers were in a rate-hiking cycle, and talk of recession was in the news. Investors could be forgiven for expecting big changes in US Treasury yields before year’s end. But as it turned out, yields finished about where they started. In a recent webcast, Co-CEO and CIO Gerard O’Reilly talked about what this means for investors and why there is no reliable way to predict interest rates.