Talking today at the Credit Suisse Asian Investment Conference in Hong Kong, Eric Rosengren, president of the Federal Reserve Bank of Boston said he thought low global bond yields were ‘’in part pushing down yields in the United States as well’’ and that if the American economy grows at his expected 2-2.5 per cent and if inflation picks up, then yields ‘’will go up a little from where it is now’’. At the same event, ex-Fed chair Janet Yellen thought the inversion of the US Treasury yield curve did not signal a recession ahead but might instead signal that the Fed might have to start cutting its target rate.
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