Economist David Rosenberg says he made a career by not following the herd, and his bond forecast could be considered the latest example.
According to the Rosenberg Research president, this year’s rate yield shock surrounding the benchmark 10-year Treasury Note is temporary.
“This bond market is so radically oversold,” Rosenberg told CNBC’s “Trading Nation” on Friday. “We’re going to peel back to 1%.”
The 10-year yield ended the week at 1.41%. It’s now up 55% so far this year and is around 52-week highs. The yield moves inversely to debt prices.