The target set by BofA is for the year-end
Adding to that, the firm is also revising higher its 10-year German bund yields target to -0.25% from -0.40% previously.
This just adds to the slew of higher forecasts for bond yields since the turn of the year as the reflation focus stands out as being the major theme in the market so far.
With the Fed also keeping with a 'steeper for longer' message, the long-end of the curve is likely to stay offered i.e. higher yields unless economic data disappoints heavily.
