interest rate strategist of Societe Generale in France said in a report that the 10-year US Treasury yield is expected to remain in the range of 4.0%-4.5% in the coming months. They stated: "Although we expect term premiums to rise slightly, the rise in long-term yields may be limited, so the steepening trend may weaken." Strategists expect the Fed to cut interest rates twice in the second half of 2025 to address slowing economic growth and employment.