JPMorgan's interest rate strategists have revised their forecasts for U.S. Treasury yields for the end of 2024 and mid-2025. The adjustments assume a slower pace of policy easing by the Federal Reserve during Donald Trump's presidency.
The strategists now anticipate the 10-year U.S. Treasury yield to reach 4.50% by the end of 2024, up from the previous estimate of 3.90%. By mid-2025, they expect it to be at 4.15%, revised from an earlier prediction of 3.40%. For the 2-year U.S. Treasury yield, JPMorgan projects 4.25% by the end of 2024, previously forecasted at 3.85%, and 3.80% by mid-2025, adjusted from 3.20%.
