[TD Securities: Fed Rate Cut Expectation Delayed from March to June, Still Anticipates Three Rate Cuts This Year] BlockBeats News, February 12, TD Securities has postponed its forecast for the Federal Reserve's next rate cut from March to June, still expecting a total rate cut of 75 basis points this year, bringing the terminal rate down to 3%. TD Securities predicts the Fed will implement a 25-basis-point rate cut in June, September, and December. The team led by the institution's Chief U.S. Macro Strategist, Oscar Munoz, stated that the anticipated policy easing is not due to a deterioration in economic conditions but rather a result of monetary policy "normalization" as inflation gradually returns to target levels. Improved employment prospects should allow the Fed to shift its focus to the inflation mandate. The institution also expects U.S. Treasury yields to continue declining this year, with the 10-year yield falling to 3.75% by year-end (previously forecasted at 3.5%). (Jin10)