Morgan Stanley: It makes sense to adopt a more open attitude towards the US government efficiency department led by Musk

Odaily Planet Daily reported that Morgan Stanley expects the 10-year US Treasury yield to fall to 3.55% next year, lower than the previous 3.75%, as they expect the Federal Reserve to cut interest rates more than market expectations. The Morgan Stanley team's view on the Department of Government Efficiency and its leaders Elon Musk and Vivek Ramaswamy is also interesting. The team said, "Although many people doubt whether they can truly cut spending by improving efficiency, we believe that taking a more open attitude is meaningful considering the individuals involved and how this seems to be the focus of Trump's second term. As the final outcome is still inconclusive, we believe that term premiums will explain how the bond market views this issue