10-Year Yield Could Sink to Lowest in Nearly 2 Years on Bigger Bond Rally
The 10-year rate could fall as low as 2.25% next year, according to Bank of America, down from about 4.12% now.
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The 10-year rate could fall as low as 2.25% next year, according to Bank of America, down from about 4.12% now.
Stocks fell, though bond yields were also lower on Tuesday as investors continue to eye rate cuts on the horizon from the Fed.
Markets shouldn't rally as much as they are if they're pricing in recession-level Fed cuts, Mohamed El-Erian told CNBC.
Two to three Fed rate cuts should occur next year, likely starting in July, though the market is expecting them to begin earlier, UBS said.
The November NBS Manufacturing PMI for China has remained a contractionary state; it declined to 49.4 from 49.5 in October and below the consensus estimate of 49.7. This observation suggests a weak external demand environment coupled with the ongoing dismantling of global manufacturing supply chains especially in the semiconductor industry due to the rivalry between the US and China in the high-tech Internet of Things space.