HALISTER1: CORRECT: UST Yields Too High Even After Rally PGIM’s Peters Says

CORRECT: UST Yields Too High Even After Rally PGIM’s Peters Says

(Bloomberg) -- (Corrects name of company in story originally published April 3.)
  • “The bias is not for higher rates, but for lower rates,” Greg Peters, senior investment officer at Prudential Financial Inc.’s fixed income business, PGIM Fixed Income, says in an interview
  • “We still think rates are too high” as 10-year U.S. yield falls to lowest level since February; the benchmark may decline to 2.1 percent this year, Peters says
  • Peters co-manages the $21.7 billion Prudential Total Return Bond Fund; biggest stakes as of Feb. 28 include five- and 10-year Treasury futures
  • He has less confidence in a flatter yield curve as Fed officials discuss reducing the bank’s balance sheet
  • Market had too much enthusiasm for stronger economic growth and inflation; expects price growth to subside in the months ahead
  • Sees “better value” in some EM currencies; trimming long MXN positions after rally last month

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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Gregory Peters (Prudential Financial Inc)

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