The Outlook for the U.S. 10-Year Treasury Yield

The transcript discusses market expectations for 2020, focusing on the potential impact of a phase one trade deal between the US and China. It explores the belief that interest rates will trend lower, aligning with policy rates, and examines central bank policies, including rate cuts by the Fed and ECB. The discussion highlights skepticism about further significant easing by central banks in 2020.

What is the significance of a phase one deal as described in the text?

Why does the author believe that getting down to a yield of 1% seems far-fetched?