美国利率策略 - 市场隐含的美联储政策路径已计入生产率预期-US Rates Strategy-The Market-Implied Path for Fed Policy Is Priced for Productivity

November 17, 2025 07:06 AM GMT US Rates Strategy | North America The Market-Implied Path for Fed Policy Is Priced for Productivity Our economists' 2026 outlook envisions four possible paths for the US economy and resulting Fed policy. The current market- implied path for Fed policy aligns most closely with the likely path in a scenario where AI-driven productivity gains exceed expectations. Stay long 5y US Treasuries. Key Takeaways Please add me to your distribution list. M Idea Morgan Stanley & Co. LLC Mat ...