Yellen: Possible long-term yields will come down, but ‘no one knows for sure’

(Reuters) – U.S. Treasury Secretary Janet Yellen on Thursday said the sharp rise in long-term bond yields is reflective of confidence in the U.S. economy and expectations that interest rates will be higher for longer as a result.

Yellen, in a televised interview with Bloomberg, said it was also possible that yields on longer-dated bonds will come down, but “no one knows for sure.”

(Reporting By Dan Burns)