I posted earlier in the week on SG expect the US 10 year at 2% by year end - the key risk is the Fed responding

Outdone by DB now, who have raised their forecast to 2.25% from 1.25% previously! And the 30-year yield to be 3%.


  • vigorous growth and risks of upward pressure on inflation
  • steady bearish steepening of the yield curve through year end as the economy reopens, Congress turns to a potential infrastructure package before fiscal 2022 begins in September, and the Fed forewarns the market of plans to taper QE asset purchases

DB expect the Federal Reserve prime markets for a 2022 taper beginning in the third quarter of 2021