Goldman Says Go Short on 10-Year Treasuries After Latest Rally
- Economic impact of rising virus cases likely to be smaller
- Sees consumption recovery getting back on track by September
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A rally in U.S. Treasuries may be overdone as the economic impact of rising coronavirus cases would be significantly smaller than before, according to Goldman Sachs Group Inc.
That’s because “measures used to contain the outbreak are unlikely to be as far-reaching as those adopted in March/April,” Praveen Korapaty, chief interest rate strategist at Goldman Sachs wrote in a July 11 client note.