J.P. Morgan Chase strategists cut their forecast for the bench mark 10-year Treasury yield to 1.75% at year-end, from a prior forecast of 2.45%.
J.P. Morgan Chase strategists slashed their year-end interest rate expectation to 1.75% for the benchmark 10-year Treasury, which influences mortgage rates.
The new view on the Fed came after President Donald Trump threatened tariffs on Mexico if it does not stop illegal immigrants from crossing into the U.S., raising speculation that the president is willing to implement tariffs elsewhere, like India or Europe.JP Morgan Chase strategists cut their forecast for the benchmark 10-year Treasury yield to 1.
"Until recently, our base case scenario was that the increase in tariffs would contribute to a further slowing in capex spending this year but that it would not translate to an outright deterioration in the economy. However, trade related headwinds to the growth outlook have continued to build, and our economists believe that the latest developments this week are likely to have lasting damaging effects on business confidence and should thus prompt the Fed to respond," the J.P.
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