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%

-

Kiesel says his view may be controversial - yeah, I reckon it could well be.