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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
About Amundi
Amundi, the leading European asset manager, ranking among the top 10 global players[1], offers its 100 million clients - retail, institutional and corporate - a complete range of savings and investment solutions in active and passive management, in traditional or real assets.
With its six international investment hubs[2], financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape.
Amundi clients benefit from the expertise and advice of 4,800 employees in more than 35 countries. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages more than €1.750 trillion of assets[3].
Amundi, a trusted partner, working every day in the interest of its clients and society
Footnotes
- Source: IPE “Top 500 Asset Managers” published in June 2020, based on assets under management as at 31/12/2019
- Boston, Dublin, London, Milan, Paris and Tokyo
- Amundi data as of 31/03/2021
