One of Wall Street’s largest bond bears has had a good start to the new year, with U.S. Treasury yields moving closer to his strongly non-mainstream prediction. Padhraic Garvey, global debt and rates strategist at ING Groep NV, predicts that the 10-Year U.S. Treasury Notes Yield will be around 5.5% by the end of 2025, up from about 4.63% on Monday. Among the 51 year-end forecasts compiled, only 3 predict increases from the current level, and ING's forecast is approximately 40 basis points higher than the second most pessimistic prediction. Garvey's forecast is based on the expectation that the Federal Reserve will maintain restrictive rates to offset risks of price pressures from the tariff and tax cuts policies of elected President Donald Trump, as well as investor concerns over the federal deficit.
华尔街债券空头预计美国10年期国债收益率将突破5%
Wall Street bond bears expect the U.S. 10-Year Treasury Notes Yield to exceed 5%.
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