According to Odaily, Morgan Stanley researchers Vishwanath Tirupattur and Serena Tang have highlighted the significance of economic slowdown and anticipated Federal Reserve rate cuts for U.S. Treasury investors. Morgan Stanley forecasts that these factors will lead to a decrease in U.S. Treasury yields, with the 10-year Treasury yield expected to fall to 4.00% by the end of 2025 and slightly above 3.00% by the end of 2026. They stated, "We believe the prospect of Federal Reserve rate cuts will exceed current market pricing, driving Treasury yields lower, particularly from early 2026."