Deutsche Bank economists said the 10-year Treasury yield could close at 4.25% this year as the Federal Reserve could cut interest rates three times before pausing in the first half of 2025 and resuming monetary easing in the second half. The Fed is expected to start cutting rates in September, in line with market pricing. The Federal Reserve is expected to leave interest rates on hold this week, with economists predicting that long-term Treasury yields will rise faster than short-term debt, reflecting a slower pace of rate cuts next year than markets expect.