Treasury yields offer value after a long period of not doing so.
While value alone is not a reason to invest, and transactional liquidity is poor, investors should wait for the right moment to buy to harvest term premium. As measured by the 30-year-forward 1-month rate relative to the Fed’s median longer-run forecast, the amount of term premium in long-end US Treasuries has never been higher. - Morgan Stanley Rates Strategy
Yorumlar