Such a positive transformation in the global economic outlook within the space of just six months is extremely rare
As recently as October, the IMF was warning that coronavirus will cause “lasting damage” to living standards across the world with any recovery likely to be “long, uneven and uncertain”.
Yet the forecast it released this week is very different. By 2024, the IMF now believes, the US economy is likely to be stronger than it had predicted before the pandemic.
... the advanced world can also look forward to largely self-correcting public finances. On the face of it, this might seem surprising.
https://www.ft.com/content/f99210c9-c909-4325-8f6b-6684faabef0a
The Debate Over the Next Move in Bonds Has Never Been Fiercer
On one side stand the likes of Bill Gross and Ray Dalio, who were among those declaring a bear market in 2018, when 10-year yields surpassed 3%, and who are again downbeat.
For the other camp, including fund managers at Mitsubishi UFJ Kokusai Asset Management Co. and Northern Trust Asset Management, that’s all just noise. They say Treasuries are attractive on the view that inflation will remain tame and growth fueled by fiscal stimulus will fade.
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