Head of global rates and currencies, David Woo on interview on Bloomberg's “Surveillance, said that the “rate forecast has been our worst forecast this year”.
Bank of America had an estimate of 3.19% up until 3 weeks ago. They have since stepped down to 2.75%. With 10 year treasuries yielding 2.19%, it might be a while until the 2.75% projection is hit.
Mr. Woo is not alone. According to Bloomberg the average estimate is 2.7%. Earlier today Goldman Sachs ate their own crow, admitting that they were a bit high on their forecast as well (see: Goldman Sachs: We were wrong on bonds ).
You ordered the crow?
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