Bank Of America Look For 10s To Yield 0.05% at End '21

Bank of America still expect "JGB yields to grind higher as the economic recovery continues, but in a stable and outperforming manner over the medium term as U.S. yields are expected to increase. We lowered our JGB yield forecasts in light of our downward revision in U.S. Treasury yields, near-term uncertainty due to the COVID-19 situation and a delayed recovery in the domestic economy compared with other regions. We expect 10-Year JGB yield to rise to 0.05% by the end of 2021. We believe the risk is tilted to the downside as the Delta variant poses risk to our economic outlook."