Update on US long end rates view. YCC or not this is what I think could happen over next 2 years. When I was on the fixed income trading desk at Lehman in '88 we had short end paper that yielded double digits....and given the amount of fiat being printed this could be just the start of the back up in yields
We may get some indigestion at current levels but ultimately I think we have a date with 4.7% to 5% area in coming quarters.