0year, we probably have to be looking at a global recession. We are going to test 1 . A lot of things would have to go incredibly wrong to get the 1 . You have to have a recession to get there. The u. S. Economy could go to recession. Unless the market begins to price an additional cuts, the 10 year at most will drop down to the 160 range. The fed will have to ease again. The fed is going nowhere. If there is any sort of weakness in the data, you will see an outsized rally in bonds. Jonathan joining me, kathy jones, george bory, and in chicago, jim bianco. Jim, lets begin with you, looking out to 2020, it seems the consensus view is for rates they are or go lower. Where you come down in that debate right now . Jim i think thats probably right. Rates will probably drift lower. Thats been the story the last 10 years. Weve had no inflation, we are in a record expansion, we cannot generate any inflation right now, rates are down 75 basis on ts this year, at least the 10year yield. The path
Looking at a global recession. We are going to test 1 . A lot of things would have to go incredibly wrong to get the 1 . You have to have a recession to get there. The u. S. Economy could go to recession. And less the market begins to price an additional cuts, the 10 year will drop down to the 160 range. The fed will have to ease again. If there is any sort of weakness in the data, you will see an outside shrouding in bonds. Jonathan joining me, kathy, george, and in chicago, jim. Lets begin with you, looking out to 2020, it seems the consensus view is for rates to remain the way they are or go lower. Where you come down in that debate . Probablyink thats right that rates will drift lower. Thats been the story the last 10 years. Weve had no inflation, we are in a record expansion, we cannot generate inflation right now, rates are down 75 basis points this year based on the 10 year yield. The path of least resistance has been lower and i dont think that will tend going into 2020. Kathy
Still attractive, but not breaking out. 120 by the end of the year. If we get 120 by the end of the 10 year, we probably have to be looking at a global recession. We are going to test 1 . A lot of things would have to go incredibly wrong to get the 1 . You have to have a recession to get there. The u. S. Economy could go to recession. Unless the market begins to price an additional cuts, the 10 year at most will drop down to the 160 range. The fed will have to ease again. The fed is going nowhere. If there is any sort of weakness in the data, you will see an outsized rally in bonds. Jonathan joining me, kathy jones, george bory, and in from chicago, jim bianco. Jim, lets begin with you, looking out to 2020, it seems the consensus view is for rates to remain where they are are or go lower. Where you come down in that debate right now . Jim i think thats probably right. Rates will probably drift lower. Thats been the story the last 10 years. Weve had no inflation, we are in a record expa
120 by the end of the year. If we get 120 by the end of the 10 year, we probably have to be looking at a global recession. We are going to test 1 . A lot of things would have to go incredibly wrong to get the 1 . You have to have a recession to get there. The u. S. Economy could go to recession. Unless the market begins to price an additional cuts, the 10 year at most will drop down to the 160 range. The fed will have to ease again. The fed is going nowhere. If there is any sort of weakness in the data, you will see an outsized rally in bonds. Jonathan joining me, kathy jones, george bory, and in chicago, jim bianco. Jim, lets begin with you, looking out to 2020, it seems the consensus view is for rates to remain where they are are or go lower. Where do you come down in that debate right now . Jim i think thats probably right. Rates will probably drift lower. Thats been the story the last 10 years. Weve had no inflation, we are in a record expansion, we cannot generate any inflation ri