TD says the $1.9tln US economic stimulus package is not priced in, rates to rise further

  
  Analysis

TD Securities see further rises for US 10 year treasuries yield citing the US$1.9tln packaged and further stimulus later in this year:

 

  • 1.3% in the near term
  • 1.45% by year-end

 

On the twin mandates:

 

  • see the unemployment rate lower
  • but do not expect inflation to rise very quickly

 

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Higher US rates, if TD gets this right, will be a supportive factor for the USD

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