Morgan Stanley's Hornbach Sees U.S. 10-Year at 1.25

The transcript discusses the journey of bond yields, central bank policies, and their impact on the market. It explores factors like economic data and financial conditions that influence yields, and the potential effects of the US election on the yield curve. The discussion also covers trade policies and their inflationary impact, as well as uncertainties surrounding Federal Reserve leadership under a Trump presidency.

What uncertainties are associated with a potential Trump presidency regarding the Federal Reserve?

How does Janet Yellen's potential response to a Trump presidency reflect her approach to the Federal Reserve's independence?