US 10-year Treasury yield risks hitting 6% for first time since 2000, Pimco’s Ivascyn tells FT
Oct 9 (Reuters) The benchmark 10-year US Treasury yield could rise to 6% for the first time since 2000 as high oil prices fuel inflation concerns and worries over the country s growing public debt, Dan Ivascyn, Chief Investment Officer at bond fund manager Pimco, told the Financial Times. US Treasury yields are a yardstick for global borrowing costs and asset prices. The 10-year yield has risen almost 120 basis points this year and is trading slightly below the 5.34% level it hit last week, its highest since 2002. A sharp rise from the current level of 5.29% was feasible in the near term, Ivascyn told FT on Friday, citing factors such as hedge funds unwinding their losing bond positions. It is certainly possible, even from a short-term trading perspective, given that some of the activity we ve seen in the last couple of weeks is tied to some negative technicals, some stop-out activity from the platform hedge funds and other levered investors. You can certainly get ther