TD Economics Key Financial Forecasts
  Current Rate 2019 2020 2021
  1/17/20 Q1 Q2 Q3 Q4 Q1F Q2F Q3F Q4F Q1F Q2F Q3F Q4F
Fed Funds Target Rate 1.75 2.50 2.50 2.00 1.75 1.75 1.75 1.75 1.75 1.75 1.75 2.00 2.25
2-yr Govt. Bond Yield 1.56 2.27 1.75 1.63 1.58 1.70 1.75 1.80 1.90 2.00 2.10 2.20 2.30
10-yr Govt. Bond Yield 1.83 2.41 2.00 1.68 1.92 1.95 2.00 2.10 2.20 2.30 2.40 2.50 2.60
30-yr Govt. Bond Yield 2.28 2.81 2.52 2.12 2.39 2.35 2.40 2.50 2.60 2.70 2.75 2.80 2.85
Forecast by TD Economics as of December 2019; all forecasts are end-of-period. Source: Bloomberg, Federal Reserve Board, TD Economics.