Core Viewpoint - The expectation of significant interest rate cuts by the Federal Reserve may lead to a decline in the U.S. 10-year Treasury yield to 3.8%-3.9% within the next three to six months [1] Group 1 - Jussi Hiljanen, Chief Strategist at SEB Research, indicates that the Federal Reserve's decision to end quantitative tightening in early December will support Treasury yields [1] - The narrowing of the policy interest rate spread and the reduction in the cost of hedging international real funds are expected to further support Treasury yields [1] - The potential for lower yields may be driven by these macroeconomic factors [1]