$64 Billion Norway Manager Bets Trump Fiscal Boom May Never Come
- U.S. 10-year yields likely won’t rise above 3%, DNB says
- DNB is neutral on stocks, says 2017 will be good year
Oslo
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The bond market may have overplayed its hand in anticipating a fiscal push from U.S. President-elect Donald Trump, according to the head of asset management at DNB ASA, Norway’s biggest bank.
The recent surge in bond yields was driven by positive economic developments before the election, as well as in anticipation of fiscal stimulus, said Torkild Varran, chief executive officer of DNB Asset Management.