Guggenheim Partners Chief Investment Officer Scott Minerd said he expects that central banks will continue to press on increasing interest rates for the foreseeable future. Central banks are "hell-bent to get inflation under control," Minerd said in an interview on CNBC. "The Fed and the central banks are going to press onto this until they break something." Minerd said that right now fixed income makes a "whole lot more sense" than stocks. "We are starting to see the signs that the market has discounted all the Fed tightening," Minerd added. "So at this stage of the game I think the 10-year note is fairly priced." "We've been extending duration in our accounts and we've been adding to credit risk and I think that history shows that long duration assets rally first and then the curve will steepen eventually once the Fed reverses course," Minerd added. Minerd also said now is
