M O R G A N S T A N L E Y R E S E A R C H
April 5, 2010Research
I n t e r e s t R a t e S t r a t e g y
Head of Global Rates StrategyMorgan Stanley & Co. Incorporated email@example.com+1 212 761-1905
Subadra.Rajappa@morganstanley.com+1 212 761-2983
William.J.Mcgraw@morganstanley.com+1 212 761-1445
Janaki.Rao@morganstanley.com+1 212 761-1711
Corentin.Rordorf@morganstanley.com+1 212 761-1909
George.Azarias@morganstanley.com+1 212 761-1346
Igor.Cashyn@morganstanley.com+1 212 761-1696
Jonathan.Marymor@morganstanley.com+1 212 761-2056
Bernard.M.Gordon@morganstanley.com+1 212 761-2647
Zofia.Koscielniak@morganstanley.com+1 212 761-1307
We believe the start of the move to 4.50% UST 10y yields and a steepening of the curve is right around the corner.Globally, we expect a series of stronger economic data in the months ahead plus a bearish seasonal bias for bonds to contribute to the rise in yields. In fact, we argue that yields may initially burst higher once they break the top end of the multi-month trading range. Higher yields, yes, we can get there from here.
We Can Get There From Here
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The Path to Higher Yields