JPMorgan's Bob Michele Predicts Drop in 10-Year Treasury Yield to 3%

Bob Michele, a representative from JPMorgan, predicts that the 10-year Treasury yield will decrease to 3% due to a large amount of idle cash that could potentially be invested in bonds if the Federal Reserve makes cuts. This observation is highlighted in the Bloomberg Surveillance newsletter, which provides daily insights from Bloomberg Television’s flagship morning show. The newsletter also notes a significant increase in money market funds, which have doubled in size over the past five years to $6.2 trillion.