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    Pimco expects 2-3 rate hikes by Federal Reserve by the end of 2017

    Synopsis

    The company, which manages the world’s biggest actively run bond fund made the posting as rising oil prices added to speculation US inflation will accelerate.

    Bloomberg
    LONDON: Treasuries dropped, pushing benchmark 10-year note yields to four-month high, as investors bet along with Pacific Investment Management Co that the prospects have grown for higher interest rates.

    Pimco says the Federal Reserve may raise its benchmark two or three times by the end of 2017.

    Stronger economic growth and inflation would drive it to act, Pimco said in a tweet. The company, which manages the world’s biggest actively run bond fund made the posting as rising oil prices added to speculation US inflation will accelerate.

    Investors preparing for a central bank move have made Treasuries the world’s worst-performing government bonds. US securities due in 10 years or more have lost 5.8% for investors in the three months through Monday, the biggest loss of 144 government bond indexes tracked by Bloomberg and the European Federation of Financial Analysts Societies.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

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