HALISTER1: UST 10Y Yield Likely to Reach 1.25% in 3Q, SocGen Says

UST 10Y Yield Likely to Reach 1.25% in 3Q, SocGen Says

(Bloomberg) -- SocGen lowers end-2016 forecast for UST 10Y yield to 1.50% from 2.10%, expects bull flattening in 3Q followed by “modest bear steepening,” strategists led by Vincent Chaigneau say in note.
  • Through 3Q, uncertainty around U.K. political landscape “should continue to present a challenging environment for risk”
  • Beyond that, rates should “drift slightly higher towards levels that are more consistent with fundamentals,” especially after U.S. elections, and 10Y should reach 1.75% in 1Q, 1.95% in 2Q
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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Vincent Chaigneau (Societe Generale SA)

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