UST yields will rise further, but unlikely to surge
According to the WSJ's March survey, the median expectation of respondents was that the federal funds rate will end 2017 at 3.0%, the same as the median expectation in the January survey before the sell-off in the Treasu…
According to the WSJ's March survey, the median expectation of respondents was that the federal funds rate will end 2017 at 3.0%, the same as the median expectation in the January survey before the sell-off in the Treasury market began.
Capital Economics notes in a report on Friday:
We anticipate that Treasury yields will rise further, although we doubt they will surge as we suspect that "term premiums" will remain quite low.
Indeed, our expectation is that the 10-year yield will rise more slowly, and to a lower level, than the WSJ median forecast of 3.5% by the end of next year.
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