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Goldman See Balanced Risks To Duration Around Current Levels

BUNDS

Late Friday saw Goldman Sachs write “we believe the growth outlook will be the key anchor for yields, and with PMIs still weak, is likely to continue to provide a tailwind for duration in the immediate future.”

  • “Our economists’ analysis also shows that elements are in place for core disinflation—albeit gradually in services.”
  • “As a result of the above, with Bund yields close to our end-2023 forecast (of 2.75% at the 10y), we think risks to duration are now balanced.”
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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