Global | Government bond yields will remain stuck to the floor

The fallout from the pandemic will cement the trend of safe haven bond yields remaining low over the next five years. Any rises will be gradual and limited. We project bond yields will struggle to get much above end-2019 levels by 2024.

What you will learn from this report:

• Despite record issuance by US, UK, German, and Japanese governments, the rise in private sector savings and demand from central banks will keep the flows of demand and supply for safe assets in broad balance. 
• Weak prospects for nominal GDP growth, demographics, and rising inequality in the aftermath of the pandemic all point to low yields.