Morgan Stanley Goes Rogue, Is Bullish On Bonds Because Frankly, Consensus Is ‘Usually Wrong’
As you know, the ongoing debate about where 10Y yields are heading and about what the bond selloff presages for equities is, well, it's ongoing.
And when I say "ongoing" I mean it's devolved into a veritable obsession. Over the weekend, Goldman "stress tested" the economy for the impact of a rate shock that would theoretically drive 10Y yields to 4.5% by the end of the year. That note came a week (give or take) after they upped their year-end forecast for 10Y yields to 3.25%. Other banks have
Out of curiosity (and milking your information sources for all their worth), who does MS believe will be the primary sources absorbing the increased Treasury supply?
correct me if i am wrong.
didn’t the last auction go poorly?
or print a link–that would be better.
you can read too much and get lost.
blame it on old age i guess.
sb