Summers Sees 10-Year Yields Averaging 4.75% in Coming Decade
- Former Treasury chief says current rate isn’t any kind of peak
- Summers says data suggest US economy is in different era
Former US Treasury Secretary Lawrence Summers says he doesn’t see the “current level of longer-term rates as any kind of peak.”
Source: BloombergThis article is for subscribers only.
Former US Treasury Secretary Lawrence Summers cautioned that the recent run-up in 10-year yields may have further to go, and that pressures are building to keep those benchmark rates much higher than experienced over the past two decades.
“I don’t particularly see the current level of longer-term rates as any kind of peak,” Summers said on Bloomberg Television’s Wall Street Week with David Westin. Summers said that conclusion is based in part on expectations for bigger government budget deficits “to come into focus” for investors over time.