According to Odaily, Mark Dowding, Chief Investment Officer at BlueBay, a subsidiary of the Royal Bank of Canada, has expressed concerns over the recent surge in U.S. Treasury bonds. Dowding believes that the market may have already factored in the Federal Reserve's anticipated rate cuts. He noted that with an expected rate cut of 80 basis points for the remainder of 2024, the current market reaction appears to be an over-adjustment. Dowding suggests that a fair valuation would be a rate cut of one to two times. Based on this perspective, he is inclined to take a contrarian position on the recent movements in U.S. Treasury yields.