0641 GMT - Morgan Stanley Research marks-to-market their duration forecast, expecting the 10-year German Bund yield to end the year at 1.80%, up from their previous forecast of 1.65%, strategists Lorenzo Testa and Maria Chiara Russo say in a note. The new year-end target, however, is still well below the current level; the 10-year Bund yield ended Friday at 2.421%, according to Tradeweb. "We incorporated mark-to-market adjustments and higher U.S. Treasury forecasts, resulting in an overall upward revision," the rates strategists say. Morgan Stanley retains a positive stance on duration but foresees a slower normalization at and below the 2% Bund target seen currently by the second quarter of 2025. (emese.bartha@wsj.com)
(END) Dow Jones Newswires
February 17, 2025 01:41 ET (06:41 GMT)
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