Weak data reinforces expectations of a rate cut, Bank of America lowers US bond yield forecasts.

According to the app of Wisdom Finance, Bank of America's interest rate strategists have lowered their forecast for US Treasury yields because they expect recent economic data to prompt the Federal Reserve to change its risk assessment. Strategists led by Mark Cabana have lowered their year-end forecast for the 2-year US Treasury yield from 3.75% to 3.5%. They also expect the 10-year US Treasury yield to reach 4.25% by the end of December, compared to their previous forecast of 4.5%.