In a recent interview with CNBC, top Wall Street analystJim Biancoprojected the 10-year Treasury yield to rise up to 5.5% in 2024, reaching the highest level since May 2001.

The president and macro strategist of Bianco Research, expected a more hawkish Fed approach and an unexpectedly resilient economy this year.

Decoding Fed's Minutes And Economic Outlook

Bianco's analysis of the recent Federal Reserve minutes revealed a less aggressive stance on rate cuts than many anticipated.

"The minutes came in a little bit more hawkish ... suggesting that the Fed might be a little, if I could use the word, stickier...