Investors will get temporary relief from falling Treasury yields this spring, market forecaster Jim Bianco predicts

which has gotten rocked by rising rates in the past month. The Nasdaq is particularly vulnerable to rates because technology is considered a long duration asset like Treasurys.closed the week at 1.70%, and it's up almost 89% so far this year.

"Maybe we can see it fall way back to 1.50 [percent]," Bianco added. "But I wouldn't consider that anything more than a respite in a move for longer-term for higher-yields."

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