The yield on the 10-year Treasury note hit its highest level in a little over month in Friday trading.
"The bond market has largely been telling us, 'growth is mediocre at best,' and the stock market has been saying, 'buckle up, it's going to be great.' And it's a little bit hard to imagine a scenario in which both those things are true," said Max Wolff, market strategist at 55 Institutional, Thursday on CNBC's "Power Lunch." As bond yields have fallen this year, equities have continued climbing to new heights; Wolff concluded: "The bond market and the stock market sort of don't seem like they see the same world.
The yield on the 10-year Treasury note hovered just above 2.28 percent on Friday, and began the year just above 2.4 percent.
The price of the note has risen, as bond yields and prices move inversely.
Bond yields will likely creep lower this year, said Sam Rines, senior economist and portfolio strategist at Avalon Advisors.