According to Jinshi Data, Morgan Stanley Research pointed out that U.S. Treasury bond investors are focused on economic slowdown and expectations for Federal Reserve interest rate cuts. It is expected that by the end of 2025, the yield on 10-year Treasury bonds will drop to 4.00%, slightly above 3.00% by the end of 2026.
Analysts believe that the prospects for Federal Reserve interest rate cuts will exceed market pricing, driving Treasury bond yields lower, especially starting from early 2026.