Among things vying for investors’ attention are the possible impeachment proceedings against the US president and fears of a further rupture in the financial system’s plumbing. Treasury bulls face the big risks of credible progress on the US-China trade front, or a resolution to avert a messy Brexit. He remains a fan of the long end of the curve, which has returned about 20 per cent this year. For the fourth quarter he doesn’t see any further breakout moves in yields, viewing the most likely path as slightly downhill from here. But he’s parsing the economic numbers, at home and abroad, for cues.“We’re absolutely data-dependent, both the Fed and the rates markets,” he said.
Source: Economic Times September 30, 2019 03:11 UTC