UBS chief investment officer Mark Haefele spoke with CNBC on Monday:
- “we see positive returns across cash, bonds and equities. When we look out towards the middle of next year, we can see the S&P 500 probably [at] about 4500 and we can see the 10-year at about 3.5%”
- “If we have a hard landing...you can get lower than that.” (referring to bond yield)
- added that so-called bond vigilantes aren’t overly concerned with the prospect of a U.S. default, which underpins his thesis for a dip in the benchmark 10-year Treasury
