US Economic Perspectives:When do higher Treasury yields hurt growth?Estimating a neutral 10y yield

With the Fed sticking to their script of continued gradual rate hikes,attention has been focused on how high the fed funds rate will rise inthe coming quarters. However, a more crucial question for growth andmarkets is how high the 10-year Treasury yield will rise, and at what levelit would begin to restrain growth.

    Answers to these questions require having a view on the neutral levelof the 10-year Treasury yield