What's Driving U.S. Yield Lower?
Morgan Stanley’s Matthew Hornbach called this year’s Treasury market rally. Now he’s revising his forecasts and is more bullish than just about anyone else. Ten-year U.S. yields will fall to 1 percent in the first quarter of 2017, according to Hornbach, the firm’s head of global interest-rate strategy in New York. None of the 61 economists surveyed by Bloomberg are as optimistic. The lowest forecast in the group is for 1.2 percent. HSBC Senior Economic Adviser Stephen King discusses with "On the Move" hosts Guy Johnson in London and Caroline Hyde in Berlin.