Mark一下KKR的话。Inflation will run hotter than it has in the past, but transitory price pressures are peaking right now, according to KKR & Co.’s Henry McVey. “We’re going to have higher inflation but I don’t think it’s going to run away the way some people do,” the chief investment officer for KKR’s own capital said. “Bond yields will move higher but not to unattractive levels.” Ten-year Treasury yields could climb to 2.5% from around 1.5% now, he said, a prediction he’s basing on historical precedent. During the first part of past recoveries, bond yields have typically risen 160 basis points from their nadir, but the current cycle’s seen them increase only about 100, he said. “That’s the bull case on why rates are going to go up.” Meanwhile, more speculative parts of the growth market could come under pressure. “What’s going to win is going to be cash flow and pricing power,” he added.