JEFFERIES global economist Mohit Kumar said current US Treasury yields are
attractive to long-term investors but uncertainty remains high. "We have low
conviction on whether the next 10bp move in the 10-year Treasury will be up or
down," he said. JEFFERIES is more confident that central banks will not deliver
the scale of rate hikes currently priced by markets; LSEG data show money
markets currently price about 93bp of cumulative Fed hikes over the next 12
months.
