[Morgan Stanley: U.S. Treasury Yields Currently Too Low, Fed's Future Rate Cuts May Be Below Market Expectations] Jin10 News, December 10 – Morgan Stanley Investment Management stated in its outlook report that the current 10-year U.S. Treasury yield, near the 4% level, may be too low relative to the U.S. economic outlook. The company believes that economic growth in 2026 is facing increasingly strong tailwinds. 'The combination of stronger growth and stubborn inflation is likely to result in the Federal Reserve cutting rates less than the current market pricing over the next 12 to 18 months.' Against this backdrop, Morgan Stanley Investment Management has adopted an underweight position on U.S. Treasuries.