In the short-term yields may increase. Slack is decreasing in the economy and that is leading to inflationary pressures.

The Fed is not finished yet in raising interest rates. Investors are still cautious on inflation and that may trigger a sell-off in Treasuries.

Inflationary pressures are starting to percolate --and the Federal Reserve is going to react to this,

Japan hasn't seen much recovery in housing. But inflationary pressures in Japan could be very positive for properties.

there's nothing here that really points to any near-term inflationary dangers.

The problem with rising short-term bond yields is that they boost the cost of acquiring and servicing credit, and thus they stifle domestic demand.