Goldman Admits It Was Wrong Forecasting 3% Yields For 2015 As It Forecasts A 3% Yield For 2016
If at first you don't succeed, try, try, keep trying again and again.
That appears to be the mantra of Goldman's credit strategists, who one year ago when the 10Y was trading right around current levels, predicted that the yield on the benchmark bond would rise to 3% by the end of 2015. It was just a little off.
First, here is Goldman's apology for being so wrong in what may be the most important forecast a bank makes (as it involves everything from the economy to the equity risk premium): where the 10 Year will trade: