Heavyweight bond investors are sticking with bets against US government debt, saying an unflagging rally paints a false impression of deep concern about the economic outlook.
BlackRock and JPMorgan Asset Management are among the fund managers continuing to wager that US Treasuries yields will rise even after they have tumbled from the highs reached earlier in 2021.
They are joined by Wall Street analysts who are forecasting a rebound in US 10-year yields to 1.8 per cent by the end of the year, from Friday’s level of 1.285 per cent. Yields on Treasuries move inversely to prices.
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