Global views & trends
The primary themes impacting the yields of US Treasuries and the pricing of future levels of inflation (via breakeven inflation rates (BEIs)) have changed little in the last few months. They continue to generate a range-trading environment for US Treasury bonds and TIPS.
Growth dynamics and demographics add to the arguments in favour
At the 13 June meeting, the Federal Open Market Committee raised the target range for the federal funds rate by a quarter point to 1.75-2.00%, marking the seventh increase in US interest rates of the current cycle.
In China, policy is driving the push to cleaner energy, but the setup in India makes the transition tougher