Three Fed scenarios, same result

Over the last couple of months, the market consensus has moved entirely from one side of the boat to the other, and then seemingly back again. The US 10‑year Treasury yield has followed, moving down, then up, and then back down again, demonstrating that pendulums never stop in the middle. But despite the noise, little has changed. Read T. Rowe Price's take on the outlook for US economic data, Fed scenarios and Treasury yields.