Australia. Pensions Giant Says Treasury Yields at 3% Will Change Everything
If there’s one core view at the heart of the investment strategy at Australia’s biggest pension fund, it’s that yields still have a long way to rise. The exodus from Treasuries will continue until 10-year yields top out at 3% or so, which would be high enough to imperil economic growth and force the Federal Reserve to respond, according to Carl Astorri, head of asset allocation at AustralianSuper Pty., which manages A$210 billion ($161 billion). He has been further trimming...
