“The Federal Reserve will lose control of interest rates as the “great rotation” out of bonds into equities takes off in full force, according to one market watcher, who sees U.S. 10-year Treasury yields hitting 5-6 percent in the next 18-24 months. ‘It is our opinion that interest rates have begun their assent, that the Fed will eventually lose control of interest rates. The yield curve will first steepen and then will shift, moving rates significantly higher,’ said Mike Crofton, President and CEO, Philadelphia Trust Company told CNBC on Wednesday. Under this scenario, he sees the yield on the 10-year rising to 3.5-4 percent in a ‘very short period of time.'”
http://www.cnbc.com/id/100926417
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