We're Back to Normal Rates, Says Ed Yardeni

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Yields in the US and other advanced economies have climbed to multidecade highs, tightening financial conditions, amid higher inflation triggered by the US-Iran war and concern about budget shortfalls.
Traders have responded by paring rate-hike expectations, with the amount priced into swaps across eight major economies falling by almost 200 basis points since mid-September, according to data compiled by Bloomberg. 
Ed Yardeni, President at Yardeni Research, discusses his S&P call and why he believes rates are 'back to normal' and not 'higher for longer.'
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