Morgan Stanley: It makes sense to take a more open attitude towards the US Department of Efficiency led by Musk

Odaily Planet Daily News Morgan Stanley expects the yield on 10-year U.S. Treasury bonds to fall to 3.55% next year, down from the previous 3.75%, as they expect the Fed’s rate cut to exceed market expectations. Morgan Stanley’s team also has interesting views on the Department of Government Efficiency and its leaders Elon Musk and Vivek Ramaswamy, saying, “While many doubt whether they can truly reduce spending by increasing efficiency, we believe that taking a more open attitude makes sense, considering the individuals involved and the apparent focus on Trump’s second term. As the final outcome is inconclusive, we believe term premium will illustrate how the bond market views this issue.” (FXStreet)