Goldman Sachs raises its forecast for year-end US Treasury yields.

Goldman Sachs interest rate strategists have raised their forecast for year-end US Treasury yields. Strategists such as Goldman Sachs' George Cole and William Marshall wrote in a report on Friday, "The benchmark scenario for the Fed's interest rate cut is delayed and the pace slowed, while the balance between economic growth and inflation remains challenging. Considering the broader fiscal trends, all of this supports our upward revision of the expectations for US bond yields." Goldman Sachs now predicts that the two-year Treasury yield will be 3.90% at the end of 2025, and the 10-year Treasury yield will be 4.50% at the end of 2025. In addition, Goldman Sachs has pushed back its expectations for the next Fed rate cut to December.