There’s a Global Wall of Cash Primed to Snap Up U.S. Treasuries
- Yields seen near a peak amid doubts about economic outlook
- Japanese buyers not seen lured until 10-year notes get to 1.3%
Photographer: Chip Somodevilla/Getty Images
This article is for subscribers only.
The Treasury market’s bears had better take notice: There’s a wall of global cash poised to swoop in and buy, likely limiting the upside in yields.
The prospect of a unified Democratic government has jump-started inflation expectations, catapulting long-term Treasury yields back to heights last seen in March 2020 -- and approaching levels where many international investors say they’d look to buy.