Now is not the time to give up on US Treasuries

Still a good case for long-duration assets

In recent weeks, the economic and geopolitical backdrops have led us to maintain a wary stance.

In recent weeks, the economic and geopolitical backdrops have led us to maintain a wary stance. While a recession is not our central scenario, we want to factor in the risk of a further slowdown. While the US and China seem at last willing to stop their trade relations from deteriorating further, the medium-term forces behind the tensions are stronger than the question of how much American soy China is willing to import. Renminbi rallies as US considers dropping some China tariffs We have entered an era of strategic competition between China and the US covering a broader range of i...