JPMorgan's Barry Sees Fed Easing 75 Bps in 2025

The video discusses the outlook for Treasury investors, highlighting the potential for lower yields due to Fed rate cuts. It examines the impact of the new administration on fiscal policy, particularly regarding the budget deficit. The possibility of 10-year yields reaching 5% is analyzed, considering factors like Fed policy and treasury supply. The video also reviews ISM manufacturing data and employment trends, noting a slowdown in hiring. Finally, it explores global policy divergence, emphasizing US exceptionalism and differing central bank actions worldwide.

What challenges does the labor market present in relation to Treasury yields?

In what ways does American exceptionalism affect the Federal Reserve's policies compared to other central banks?