US: Expect interest rates to stabilize and turn higher - BBH

According to analysts at BBH, in broad strokes, they expect US interest rates to stabilize and turn higher.  

Key Quotes

“There has been a powerful adjustment to the net speculative position in US 10-year note futures.  The Commitment of Traders data suggests that the decline in yields has been a function of bottom pickers establishing new longs, while short-covering has been minimal.  With the help of a rebound in oil prices, the likely reacceleration of growth (January-March growth has averaged 1.1% beginning in 2010, while the other quarters grow 2.5% on average), and a reduced safe haven bid as angst over the French presidential election eases, firmer interest rates will likely lend the dollar better support in Q2 than in Q1.”