News Snapshot:
German bond yields rose to a fresh 12-year high, and the risk-premium over Italian debt hit a six-month-high, after the government cut its growth forecasts for this year and next and increased its budget deficit targets. As for where rates are headed, in a note Goldman Sachs said: “The longer the [US] economy remains resilient to higher rates, the more that the risks to forward rates are likely modestly to the upside as neutral rate views remain under pressure. If the economy enters recession, the market would likely take that as confirmation of the belief that policy rates at these...
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