The markets may be volatile in the coming months, but there are ways to avoid the fray and earn solid gains. Although the Federal Reserve has been cutting rates since September, long-term Treasury yields have bucked the trend and climbed sharply. Treasury yields move inversely to prices, a dynamic that has hit long-term Treasury funds hard. What happens next depends on a number of factors, including the Fed’s next move, the U.S. fiscal situation, inflation expectations, and the policies of President-elect Trump. Fed Chairman Powell has already taken a more hawkish stance, preparing for two additional quarterly rate cuts in 2025.