UBS Adjusts US Treasury Yield Targets Upward to 4.8%

UBS strategists have shifted away from their bullish stance on short-term US Treasuries. The firm has raised its year-end target for the 10-year Treasury yield to 4.8% from 4.35%, and the 2-year target to 4.5% from 3.95%. The 2-year yield recently rose 2 basis points to 4.568%, marking its highest level since July 2024.