Wall Street Firms Forecast Double-Digit Bond Returns in 2024
• Wall Street firms like AllianceBernstein, Bank of America, Goldman Sachs, JPMorgan, and UBS are very optimistic about bonds in 2024, forecasting double-digit returns
• They expect the Fed to stop raising interest rates soon, paving the way for bond prices to rise
• Government bonds and corporate bonds are both expected to perform well
• However, massive government bond issuance to finance deficits could limit price appreciation
• Investors should build diversified portfolios, potentially including broad bond market ETFs like BND, rather than betting everything on a bond rally