Lower Range to Drive Stealth Bull Market in Bonds
In this paper, Robert Tipp, CFA, Managing Director, Chief Investment Strategist, and Head of Global Bonds explains how some forecasters may think the bear case for DM rates has strengthened-and maybe it has in the short term with G3 yields ticking higher recently. Tipp subsequently looks at the evidence that has emerged over the last several months supporting a "low for longer" thesis for DM rates over the long term. He also provides a new long-term central tendency for the U.S. 10-year yield and his expectations for the 10-year bund and 10-year JGB yields going forward.