According to Jinshi Data, the team led by JPMorgan Chase strategist Jay Barry raised its forecast for the 10-year U.S. Treasury yield to 4.35% by the end of 2025, from 4% previously. At the same time, it raised its forecast for the two-year U.S. Treasury yield to 3.5%, from 3% previously.
The easing of tariff frictions provoked by US President Trump is good for US economic growth, and the Federal Reserve may postpone its interest rate cut. Economists at JPMorgan Chase have pushed back their expectations for the Fed's interest rate cut from September to December.