Goldies head of asset management, Andrew Wilson says that US 10’s could hit 4% once the Fed starts tapering and that the it will not stifle the economic recovery.

We are a bit bearish on Treasuries … We would expect to see 10-year Treasuries probably to be about 100 bps higher a year from now,”

You’ve got a chance to get in early as he says that scenario is not priced in yet.

He told the Reuters global investment outlook summit that Europe would not see deflation but disinflation and noted that between $2-4bn flowed into emerging market fixed income funds over the last 6 months. It was a mere hour ago that Adam was extolling the virtues of emerging markets.