‘Hey, Where’s My Yield?’: UBS, BNP See 10Y US Yields Tumbling To Just 1% As Growth Slows

"Hey, where’s my yield?", BNP asks, in the title of their Q4 global outlook piece. Generally speaking, the bank's forecasts for the remainder of the year reflect a downbeat take on the prospects for growth and trade in an environment rife with uncertainty. "Our DM and EM growth forecasts remain below consensus, even though consensus has come down significantly this year", the bank writes. Specifically, BNP sees growth slowing "further below" 3% next year. Naturally, export-reliant economies