Report
Patrick Artus

Remember that the yield curve is not a leading indicator of future growth

It is often claimed that long-term interest rates are low in OECD countries because investors expect low growth in the future. But it is important to bear in mind that since the mid-1990s, there has no longer been a ny correlation between the slope of the yield curve and future growth. Such comment ary should therefore be taken with a grain of salt: long-term interest rates are low for many reasons (monetary policies, bond purchases by non-residents, financial regulations, etc.), but the prospect of weak growth is not one of them.
Provider
Natixis
Natixis

Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.

 

Analysts
Patrick Artus

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