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Pro-Palestinian encampment at Dalhousie University - May 13, 2024 | SaltWire #news #halifax #protestBENGALURU - Bond strategists upgraded their U.S. Treasury yield forecasts for coming months to their highest since at least November amid sticky inflation and greater conviction in financial markets of fewer Federal Reserve rate cuts this year, a Reuters poll found.
But asked whether 10-year yields would revisit their cycle high in the coming three months, a near-90% majority of fixed income strategists in a May 7-14 Reuters poll, 23 of 27, said that was unlikely. " Powell continues to tell us there are seemingly low odds of an additional rate hike in this cycle, and we agree with that," he added.
Bond strategists in the latest poll pulled up their median end-July forecast to 4.40% - a 25 basis point upgrade from last month and 53 basis points higher than in a February survey. "The main thing to look for is if inflation doesn't moderate as fast as the Fed's expecting and the economy remains strong...the 10-year could retest highs around 4.75% or even push up to 5%," he added.
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