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Investment Talks - 2020 outlook for the US 10-year Treasury bond
London, UK, 19 December 2019
- In 2019, 10-year US Treasury bonds traded in a range of 1.46-2.78%, the fourth-widest range since 2010.
- In 2020, we think the 10-year Treasury may trade in a similar range, with additional volatility arising from many of the same factors that drove volatility in 2019. We don’t expect the benchmark bond to exhibit a particular bias towards going higher or lower, assuming certain outlier scenarios are avoided.
- The current cyclical slowdown phase calls for caution, but investors may also want to prepare for a U-turn if and when earnings and economic growth reaccelerates. A macro environment marked by stabilising growth and a patient but supportive Federal Reserve should be positive for risk assets in general.
Experts
Paresh Upadhyaya is Director of Currency Strategy and a Portfolio Manager for multi-sector strategies. He also leads Amundi Pioneer’s currency research effort out of Boston and serves as an advisor[...]
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Marco Pirondini is Senior Managing Director, Head of Equities, US, and Portfolio Manager. He co-manages Global Equity and Multi Asset Income portfolios. As Head of Equities,[...]
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Christine Todd, CFA is Senior Managing Director and Head of Fixed Income, US. She supervises all fixed income portfolio management and research activities for Amundi Pioneer in the US, and leads a team[...]
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Fany De Villeneuve
UK - International Press Relations
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