KKR Lifts US Treasury Yield Forecasts, Sees Fed Holding Rates Higher

KKR's revision is modest in scale but notable in direction: a private-markets heavyweight nudging its long-run rate assumptions upward implies higher-for-longer discount rates across all asset classes, including tokenized Treasuries and yield-bearing RWA products whose appeal rests on relative spread. The signal matters less for the headline number than for the reasoning — anchoring the call to a Fed chair's inflation concerns rather than to growth data. Whether other houses follow KKR's revision, or whether incoming inflation prints undercut it, is the open question.