“Most people—and I’m including myself—thought we’d see a trade deal by now,” said Steven Blitz, chief U.S. economist at TS Lombard. This year’s disappointment notwithstanding, Mr. Blitz is forecasting that talks between the U.S. and China will lead to a preliminary agreement.
A surge in business and consumer confidence stemming from progress on trade is likely to help spur growth next year, leading to improved risk appetite among investors and reducing the demand for the safety of government bonds, Mr. Blitz said. He said he is predicting the 10-year yield will climb to about 2.5%.
“With plenty of fits and starts and histrionics along the way, you’re moving from disorder to order,” Mr. Blitz said regarding trade.
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