Brian Battle discusses long-term rates on U.S. Treasurys. "The bond market sold off because the Fed isn't changing the amount of bonds they are going to buy," Battle said. "The bond market wants to test the Fed. There is a feeling that 3% is the magic number on the 10-year, so we'll see if the Fed tries to drive it back down to that level," he said. Battle said yields could go as high as 3.25% in the short-term, especially if stocks continue to rally and more economic data suggests that the economy may be close to hitting bottom.