U.S. 10-Year Yield May Rise to 3.5% by Year-End, QIC's Buckley Says

The video discusses the expected rise in US interest rates and its potential impact on the US and Australian economies. It highlights the differences in economic growth rates between the two countries and the implications for their respective currencies. The discussion also covers the potential effects of a trade war on global economies, particularly focusing on the US and Australia.

What is the significance of the federal funds rate heading towards 3%?

What potential impacts could arise from the trade war mentioned in the text?