Credit market view from the huge Pacific Investment Management Company
- 10-year Treasury note yield to top around 3%
- recent move in Treasury yield towards 3 per cent is unlikely to go much further
Mark Kiesel, global credit chief investment officer
- "We think most of the back-up in US rates is over,"
- While we acknowledge the improving economy . . . inflation in the US is picking up but it's doing it very gradually. We're still of the belief that we are in a globalised world and that inflation is not going to surprise on the upside."
This via the Financial Times, more here at their piece, which may be gated: Pimco calls top in 10-year Treasury yields at 3%
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Kiesel says his view may be controversial - yeah, I reckon it could well be.