From Barron's Income Investing blog:
Rates strategists at Barclays today became the latest in a long line of bond-market pundits to raise their Treasury yield forecasts to catch up with the reality that rising Treasury yields have already surpassed all their earlier forecasts. Barclays upped its 10-year Treasury yield forecast to 3.1% by the end of this year and 3.75% by the third quarter of 2014, from its earlier forecast of 2.9% by mid-2014. (The 10-year Treasury yield topped 2.9% earlier this week and stood at 2.82% Friday afternoon.) Quoth Barclays:
In essence, we are maintaining the view that rates will continue move higher, but now believe that the drift will be faster than the market expects as we get closer to normalization of monetary policy....MORE
