TD Economics Key Financial Forecasts
  Current Rate 2020 2021 2022
  4/16/21 Q1 Q2 Q3 Q4 Q1 Q2F Q3F Q4F Q1F Q2F Q3F Q4F
Fed Funds Target Rate 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25
2-yr Govt. Bond Yield 0.16 0.23 0.16 0.13 0.13 0.16 0.18 0.20 0.25 0.30 0.35 0.45 0.55
10-yr Govt. Bond Yield 1.58 0.70 0.66 0.69 0.93 1.74 1.60 1.65 1.70 1.75 1.80 1.85 1.90
30-yr Govt. Bond Yield 2.27 1.35 1.41 1.46 1.65 2.41 2.30 2.35 2.40 2.45 2.50 2.50 2.50
Forecast by TD Economics as of March 2021; all forecasts are end-of-period. Source: Bloomberg, Federal Reserve Board, TD Economics.