Investors can expect the yield curve to flatten in the coming months as short-term rates gradually lead the way up. Two-year Treasuries now yielding 1.65% will probably yield 3% by the end of the year, while 30-year bonds yielding 4.88% will only creep up another one-quarter to one-half of a percentage point, he predicts. Longer-term rates should remain relatively stable, with yields on 30-year Treasuries inching up one-quarter to one-half percent by year-end.

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