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Joining the 3% club. Societe Generale.......>

US TSYS
US TSYS: Joining the 3% club. Societe Generale rates strategists estimate 10Y
yld will climb to 3.0% by year end, joining other dealers forecasts after last
month's payroll and hourly earnings data also surprised. But SocGen sees
"sustained rise in yields is less likely." SocGen also sees "2s10s and 5s30s
curve flattening relative to forwards." However, following US Pres Trump signed
import tariff proclamations on steel and aluminum late Thursday, SocGen warns
"spectre of a trade war is a new headwind for the synchronised global
expansion."

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