"While we think there will be some near-term consolidation, we believe strong economic data will lead yields to resume their upward trajectory in the coming quarters, and we therefore revise up our projections," a Goldman Sachs Economics Research report said.
NEW YORK: Stronger economic data should push the benchmark 10-year U.S. Treasury yield up to 1.9% by the end of 2021, according to Goldman Sachs' latest forecast released on Thursday.
Expectations that government stimulus and a countrywide coronavirus vaccination program are fueling an economic rebound in the United States have pushed Treasury yields higher in recent weeks, a move that has reverberated throughout global markets and weighed on U.S. stocks.
