Despite the imminent threat of President Trump's trade and tax policies to the bond market, Wall Street is still taking cues from the Federal Reserve, predicting that U.S. short-term Treasury yields will decline by 2025. Strategists' forecasts are largely in agreement, anticipating that the 2-year Treasury yield, which is more sensitive to Federal Reserve interest rate policy, will decrease. They expect the yield to drop by at least 50 basis points from its current level in 12 months. The median forecast among 12 strategists is that the 2-year U.S. Treasury yield will fall by about 50 basis points to 3.75% in a year. For the longer-term 10-year Treasury, strategists believe that last Friday's yield of about 4.52% will reach 4.25% by the end of 2025, which is about 25 basis points lower than the current level.