Nordea Bank of Sweden: Q1 U.S. Treasury yield is expected to reach 3.9%

According to ChainCatcher news and Jin10 reports, Jussi Hiljanen, the chief strategist of the research department at Nordea Bank in Sweden, stated in a report that he still expects the yield on the 10-year U.S. Treasury bond to fall to 3.9% in the first quarter of 2026. He pointed out that to achieve this goal, the market must re-establish confidence in the Fed's interest rate cut path. Although recent hawkish comments from Fed officials have intensified uncertainty in the short term, he emphasized that a shift towards easing policy, a downward adjustment of interest rate expectations, and declining yields remain his benchmark scenario in the next three to four months.