TD Economics Key Financial Forecasts
	Current Rate	2023				2024				2025
	6/28/24	Q1	Q2	Q3	Q4	Q1	Q2F	Q3F	Q4F	Q1F	Q2F	Q3F	Q4F
Fed Funds Target Rate	5.50	5.00	5.25	5.50	5.50	5.50	5.50	5.50	5.25	5.00	4.50	4.00	3.50
2-yr Govt. Bond Yield	4.72	4.06	4.87	5.03	4.23	4.59	4.70	4.50	4.30	4.00	3.70	3.40	3.10
10-yr Govt. Bond Yield	4.35	3.48	3.81	4.59	3.88	4.20	4.30	4.30	4.15	3.95	3.75	3.60	3.45
30-yr Govt. Bond Yield	4.50	3.67	3.85	4.73	4.03	4.34	4.45	4.45	4.35	4.25	4.05	3.90	3.75
Forecast by TD Economics as of June 2024; all forecasts are end-of-period. Source: Bloomberg, Federal Reserve Board, TD Economics.