Ok look, it's anyone's guess where yields are going to be in 12 months. Rates strategists are tying themselves in knots trying to process all of the incoming information. The list of variables in the reaction function seems to be growing by the day. There's Fed hikes (how many?), Trump (fiscal policy? deregulation?), China (devaluation? frozen money markets?), EM (USD debt load?), Europe (where the hell is the inflation? taper?), Japan (yield curve control? helicopter money?), and on, and on.