if else not checking both of the conditions in Python

i want new column ['pred_n'] to be created based on certain condition, condition is as follows: if year is less than or equal to current year & month is less than current month, pred_n should be equal to yhatpct else it should be yhatpct_ft. trying following syntax:

if((dfyz['year_x'] < datetime.now().year) | ((dfyz['year_x'] == datetime.now().year) & (dfyz['mon'] < datetime.now().month))):
    dfyz['pred_n'] = dfyz['yhat']*dfyz['pct']
else:
    dfyz['pred_n'] = dfyz['yhat']*dfyz['pct_ft']

but output shows only if condition though in my data I have month and year from 2019 - 08 onwards and if i use

if ((dfyz['year_x'] < datetime.now().year) | ((dfyz['year_x'] == datetime.now().year) & (dfyz['mon'] < datetime.now().month))):
     dfyz['pred_n'] = dfyz['yhat']*dfyz['pct']
elif (((dfyz['year_x'] == datetime.now().year) & (dfyz['mon'] >= datetime.now().month)) | ((dfyz['year_x'] > datetime.now().year))):
       dfyz['pred_n'] = dfyz['yhat']*dfyz['pct_ft']

it gives output only for else condition