David Rosenberg of Gluskin-Sheff may have been overly bearish on equities (and the economy as a whole) but he’s definitely been on the right of the bond trade for most of the year, favouring Treasuries as a good bet on deflation.
But at one point this year he predicted that 10-year yields would fall below 2%, and he even made a bet with Marc Faber on that.
Anyway, that’s not looking so hot right now. 3% seems way more likely to be breached going up than 2%.
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