The yield on the 10-year United States Treasury note is hanging around 2.1 percent.
What picture of the future might this market price be reflecting?
Daniel Kruger, of the Wall Street Journal, presents us with the interesting perspective of Steven Major, the global head of fixed-income research at HSBC Holdings PLC (HSBC).
Mr. Major’s interpretation of the current scene in the bond market is based upon his perception that the economic future is going to be dominated by global factors like “the level of debt, demographics, and the distribution of wealth….”
The single most important