Templeton Stays Short Treasuries as Hasenstab Sees 4% Yield
- Hasenstab still sees ‘perfect storm’ of inflationary pressures
- Yields have dropped this week amid a global flight to havens
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As global bonds catch a bid on haven demand, Michael Hasenstab is doubling down on his call for a breakout in Treasury yields.
The Franklin Templeton bond chief reiterated a call first made in May that a “perfect storm” of inflationary pressures is lining up to push U.S. benchmark bond yields past 4 percent, a closing level they haven’t reached in more than a decade. Filings show he’s also putting money behind the wager by extending a record short bond bet in his $35 billion Templeton Global Bond Fund.