October 25, 2017 / 1:56 PM / a year ago

Guggenheim's Minerd says U.S. bull market in bonds 'soundly in place'

NEW YORK, Oct 25 (Reuters) - The U.S. bull market in bonds is "still soundly in place" despite the 10-year yield's recent rise above 2.4 percent this week, Scott Minerd, global chief investment at Guggenheim Partners, said Wednesday.

The 10-year Treasury yield closed above 2.4 percent for the first time in five months "from a combination of seasonal pressures which are driving rates higher and the rest increasing confidence that a tax deal is imminent," Minerd said.

"There is still lots of uncertainty around the tax deal both in its substance and the likelihood it will pass this year." (Reporting By Jennifer Ablan; Editing by Chizu Nomiyama)

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