The swirl of fresh coronavirus cases and signs of the severity of the hit on the global economy have seasoned strategists warning that U.S. growth could come to a halt this year and some Treasury yields may drop below zero — possibly as early as this week.
The warnings come as a rout in equities and rate-cut expectations sent long-term Treasury yields to unprecedented lows. Over the weekend, China’s manufacturing purchasing managers’ index plunged to the lowest on record amid a surge in coronavirus cases and new fatalities — including the first in the U.S. — around the world.
The warnings come as a rout in equities and rate-cut expectations sent long-term Treasury yields to unprecedented lows. Over the weekend, China’s manufacturing purchasing managers’ index plunged to the lowest on record amid a surge in coronavirus cases and new fatalities — including the first in the U.S. — around the world.
Source: BloombergRead the full story ↗
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