Treasuries and PMIs Have a Difference of Opinion on the Economy

U.S. manufacturing purchasing managers’ surveys and government bond yields have parted ways: the PMI is suggesting a bullish view on the economy, while bonds are painting a bleaker picture. Ultimately the divide should close and it is the bond market that will take the hit, as there is nothing in the medium term to derail global economic growth, according to Pictet Asset Management.

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