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What drives r-star and why it should be higher


R-star is a useful theoretical concept for bond investors, but there is a wide array of estimates. R-star should reflect the fundamental determinants of potential growth. R-star should be higher than it was during the pre-pandemic period. We estimate the nominal longer run neutral rate is 4.0%, above the Fed's estimate.

Ned Davis Research | Fixed Income | Focus | Bi-Weekly

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