Bill Ackman and Larry Fink see US Treasury yields hitting 5%: 'Like literally weeks'

• Wall Street heavyweights Larry Fink and Bill Ackman see US Treasury yields reaching 5%.
• "That could happen in the very short-term," Ackman said. "Like literally weeks."
• This is as persistent inflation will keep pushing interest rates up.

Wall Street heavyweights Bill Ackman and Larry Fink see inflation remaining higher and expect US Treasury yields to soon hit 5%.

Ackman, who is the CEO of Pershing Square Capital, said at CNBC's Delivering Alpha 2023 conference on Thursday that inflation will be persistently higher, while noting that US yields in the 4% range are still low on a historical basis.

"I would not be shocked to see 30-year rates well through the 5[%] barrier, and you could see the 10-year approach 5," he said. "And that could happen in the very short-term. Like literally weeks."