Broker-dealer LPL Financial no longer expects the benchmark 10-year Treasury yield to climb as high as 2% by year-end.
Instead, sharp interest from foreign buying in haven U.S. government debt and economic weakness prompted by the coronavirus’ delta variant have led Lawrence Gillum, LPL’s fixed income strategist, to revise lower his firm’s expected year-end range for the benchmark to between 1.5% and 1.75%.
“Higher inflation expectations, less involvement in the bond market by the Federal Reserve (Fed), and a record amount of Treasury issuance this year were all reasons....More>>>