Goldman Says Treasurys Run Over

Goldman Sachs (NYSE:GS)

Goldman Sachs (NYSE:GS) says in a note today that 10-year Treasury yields, trading recently at 3.022%, have stabilized around 3% on both sides of the Atlantic and below the bank’s measures of “fair value”.

“Barring a meaningful downgrade to the 2012-13 growth outlook, we think that the bond rally is close to an end,” Goldman’s bond strategists write.  Goldman sticks with its year-end call of a 3.75% yield on the 10-year, even as some other major banks have cut their yield calls.

Keep in mind that  Goldman Sachs shares are now trading with a P/E Ratio of 14.7 and EPS of 9.11.  GS shares are only 3.44% from its 52-week low and trading today around $134.

source: http://blogs.wsj.com/marketbeat/2011/06/07/goldman-sees-end-to-treasury-rally/

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