Goldman Sachs Raises Benchmark Treasury Yield Target to 1.90%

Goldman Sachs has raised its Treasury bond yield target, expecting the benchmark 10-year bond rate to reach 1.90% by the end of 2021, according to a research note on Thursday.

The forecast comes amid a selloff in the bond market, MarketWatch noted.

“The already material repricing in global yields will, in our view, extend after some consolidation, driven by a strong acceleration in the global recovery over the coming quarters.”

U.S. Treasury yields continued to rise today after recent remarks by the Federal Reserve Chair Jerome Powell suggested that the American central bank is monitoring changes in market conditions, noting that the rising bond yields are not a cause for concern at the moment.