VIEW: Friday saw Goldman Sachs note that......>

BONDS: VIEW: Friday saw Goldman Sachs note that they have have revised their

"G10 yield forecasts to align with the ongoing recovery... We expect a sharp

sequential rebound in economic activity in the coming quarter, and believe this

should lead to higher yields across G10. Sovereign bond yields have anticipated

improvement in economic activity, though easy monetary policy, which serves to

reinforce price action in risk assets, works in an opposing direction when it

comes to interest rates, and is on net preventing a significant repricing of

yields. Looking ahead, while we expect G10 central banks to take additional

monetary easing measures, we believe most of these measures, such as forward

guidance or YCC are already being anticipated by markets to an extent, and

therefore the growth-related repricing is likely to dominate... We expect 10y

UST yields to end the year at 1.05%, roughly 40bp above current levels, and end

2021 at 1.45%. For 10y German yields, our YE20 and YE21 projections are -0.25%

and 0.1% respectively."