The US 10 yr has moved little, past days, a tad either side of 2.97%. Fear of default and many predicted yields would spike.
Part of the explanation is flight to quality during turmoil; the US still provides sanctuary. Part is the view, reinforced by yesterday’s weak June Durable Orders - for a slowing into year end.
Anchor: In fact, we can expect a growing economy ahead, now assisted by low interest rates and associated borrowing costs.
Robert Craven
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