You need a PLUS account to view this content. Try one month of PLUS for FREE.
Already have an account? log in
The Flows Backdrop For The Great Bond Debate
On Tuesday morning, I walked through the "debate" between Bill Dudley and Morgan Stanley's US rates team over the future of US Treasurys.
It was a somewhat begrudging exercise. Begrudging because it felt like a story that was only a story because newsflow was thin around the US holiday.
That said, the points Dudley brought up -- that the neutral rate may be higher, that inflation probably isn't going to recede quickly back to 2% and that the term premium should probably be higher too -- are im
Equities minus the “Magnificent Seven” would make an interesting bar on that last chart as well.