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‘An Orderly Clearing Of Markets’: Goldman On The Bond Selloff
Odds may now favor a "sharp reversal" in US long-end yields.
That's according to Goldman, but it's
I understand people would like rates to fall again but frankly the notion of fair value in the low 4% range for 10s seems too low. Even at 2% inflation, the implied real level for these bonds would only be 2%. Since inflation is unlikely to reach as low as 2% anytime soon, it seems to me that 10s will have to stay at 4.5 or more for a while yet.
Is war inflationary?