Bond yields have been surging of late amid expectations that the Federal Reserve will continue to raise interest rates in the wake of stubbornly elevated inflation and strong economic data. Hedge fund manager Bill Ackman weighed in on surging Treasury yields in a post on X. What Happened: Ackman, the founder of Pershing Square, said his firm remained short on bonds, especially the 30-year bonds, through the ownership of "swaptions."