Bank of America returns 'nearly full circle' on 10-year yield forecast

Bank of America lowered its year-end forecast on the 10-year Treasury to 1.55%. "We came into 2021 with a 10Y year-end target of 1.5% but subsequently revised higher to eventually above 2% after the Democratic clean sweep, vaccine progress and sharp upward revision of economic expectations from our US economists. We now return nearly full circle," said analysts led by Mark Cabana. "We are forced to acknowledge that the delta variant has caused a considerable reassessment of the economic outlook as priced in by rates markets globally." The yield on the 10-year Treasury was 1.35% on Thursday morning. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Bank of America returns 'nearly full circle' on 10-year yield forecast
Bank of America lowered its year-end forecast on the 10-year Treasury to 1.55%. "We came into 2021 with a 10Y year-end target of 1.5% but subsequently revised higher to eventually above 2% after the Democratic clean sweep, vaccine progress and sharp upward revision of economic expectations from our US economists. We now return nearly full circle," said analysts led by Mark Cabana. "We are forced to acknowledge that the delta variant has caused a considerable reassessment of the economic outlook as priced in by rates markets globally." The yield on the 10-year Treasury was 1.35% on Thursday morning. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.