Broker-dealer LPL Financial is cutting its expected range for the benchmark 10-year Treasury yield to 1.5% to 1.75% by year-end from an earlier forecast as...
Broker-dealer LPL Financial no longer expects the benchmark 10-year Treasury yield to climb as high as 2% by year-end.
“Higher inflation expectations, less involvement in the bond market by the Federal Reserve , and a record amount of Treasury issuance this year were all reasons we thought interest rates could end the year between 1.75% and 2.0%,” Gillum wrote in a recent note. “However, due to the persistence of the delta variant, we are starting to see GDP growth forecasts revised lower. That has kept interest rates relatively anchored at current levels,” according to Gillum, who included the following chart tracking economic growth to underscore the point.
Persistently low global rates on government and corporate bonds also have attracted foreign investors looking for a bit of yield to Treasurys.
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