U.S. 10-Year Yield Hasn’t Seen Cycle High: Morgan Stanley’s Sheets

The transcript discusses the current state and future expectations of the 10-year yield, suggesting it has not yet reached its cycle high. Morgan Stanley forecasts a rise to 1.8% by year-end, with catalysts like labor market data and Fed tapering expected to influence this. Technical factors and market reactions are also considered, with potential for a sideways market move over the summer due to competing forces such as seasonality and COVID uncertainty.

What does the speaker suggest about the potential for the 10-year yield to find a floor?

What factors does the speaker believe are influencing the current movement of the 10-year yield?