Salient to Investors:
Economists expect the 10-yr Treasury yield to end 2013 at 2.17 percent.
Bill Gross at Pimco expects Treasury 5-yr notes to yield 0.7 percent at the end of 2013 versus 0.72 percent today, and the dollar to decline and oil climb above $100 in 2013. Gross expects stocks and bonds to return less than 5 percent in 2013 and unemployment persist at 7.5 percent or higher.
David Ader at CRT Capital said the returns produced by the 30-yr bull market in fixed-income won’t repeat because it is mathematically impossible.
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