HALISTER1: U.S., German, JGB Yield Forecasts Updated by BNP

U.S., German, JGB Yield Forecasts Updated by BNP

(Bloomberg) -- End-2016 forecasts now 1.60% for UST 10Y, -0.20% for German 10Y, -0.20% for JGB 10Y, based on “downbeat expectations for developed-country growth and inflation, with continuing monetary accommodation,” BNP’s Laurence Mutkin says in note.
  • Forecasts are below forward rates for end-2016, mid-2017 and end-2017; expecting “more prolonged easy monetary policies”
  • Core recommendations include: long duration (U.S. 10yr, long-end Europe, front-end Japan), curve flattening in Europe (2s30s in core, 10s30s in periphery), bullets over barbells (10y and 20y in Europe, 10y in U.S.), cross- currency basis widening in JPY and EUR vs USD
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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Laurence Mutkin (BNP Paribas SA)

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