JPMorgan Chase: It is expected that the Federal Reserve will cut interest rates at every meeting by January next year, and US bond prices are expected to continue to rise

Golden Finance reported that the strategists led by Jay Barry of JPMorgan Chase believed that the price of US treasury bond bonds would continue to rise. It is expected that the Federal Reserve will decide to cut interest rates at every FOMC monetary policy meeting until January 2026. It is expected that the top of the target range for the federal funds rate (i.e. policy rate) at the beginning of next year will fall to 3.0%. Morgan Stanley economists predict that Trump's tariffs will cause a contraction in US real GDP. Reduce the expected real GDP growth rate for the whole year to -0.3%, previously expected to increase by 1.3%. It is expected that by the end of 2025, the yield of US two-year treasury bond will drop to 2.7%, and the 10-year yield is expected to be 3.65%, compared with 3.65% and 4.15% previously.