Bond Yields Surging Again, As Economists Crank Up GDP Forecasts

Everyone is getting bullish on the economy.

The latest survey of economists done by WSJ shows optimism spreading across the board:

The 55 respondents, not all of whom answer every question, raised their growth projections for gross domestic product for nearly every period, including the current quarter. On average, the economists now predict GDP will grow 2.6% in the current quarter at a seasonally adjusted annual rate, up from the 2.4% growth they projected in last month’s survey. The economy grew 2.5% in the third quarter.

We’re now starting to get a long list of people upping their estimates, including noted pessimists like Jan Hatzius at Goldman and David Rosenberg.

Meanwhile, in light of all the good news, bond yields are rising again, with the 10-year hitting a new high of 3.35%.

Here’s a look at the curve from Bloomberg

chart

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