February 2015

What’s Inside

  • The gap between U.S. and European bond yields presents an interesting value case for U.S. credit.
  • U.S. Treasury yields are now higher than nearly all G-7 governments. Policy hikes could accelerate an already strengthening dollar, hurting exports and economic growth.
  • We would expect foreign capital, in particular, European capital, to continue pouring into the U.S. markets.

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