CNBC reports that according to Jim Caron, global fixed-income portfolio manager at Morgan Stanley, the rise in 10-year Treasury yields is reasonable and a reflection of the growing confidence in the U.S economic outlook.

The recent increase in bond yields does not indicate a tightening of financial conditions, according to Caron.

“The way that I see it is that as we sit here around 1.75%, 1.7% in the 10-year note, I think this is a reasonable area where we can expect some consolidation,” he said Friday, referring to how the yield will likely remain within a range, neither continuing much higher or reversing much.

“Because this is the level that the market had expected that we would get to, on a more dovish than expected Fed announcement. And that’s what we got,” he told.

Michael Spencer, chief economist and head of research Asia-Pacific at Deutsche Bank, echoed a similar view, stating it is “entirely natural that long bond yields are going up.”

“Everybody is wildly bullish on U.S growth. We expect through the course of this year, the economy is going to grow 7.5%. I don’t think what we’ve seen is disorderly. I think we have to expect by the end of the year, 10-year bond yields are going to be two and a quarter (percent), or higher”, he told.