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FEDERATED HERMES: DON’T RUSH INTO BONDS YET Treasury yields are at some of their highest levels in a generation, but Federated Hermes CIO R.J. Gallo says elevated rate volatility means it may be too early to buy aggressively. He warns another wave of bond-fund selling could push yields even higher before markets stabilize. For now, Gallo favors short duration, with mortgage-backed securities potentially attractive once volatility subsides.