At the start of the year, industrial giant Prologis was making some bold predictions.

“Our projections take the bull case on interest rate cuts,” they wrote. “While the latest Federal Open Market Committee member projections from December show a median federal funds rate in 2024 in the mid-4% range, lower than 2023’s mid-5% range, we expect inflation to slow more quickly than anticipated.” The second part of their argument is that the 10-year Treasury yield would “dip below 4% in 2024, ahead of consensus views for around 4%.”


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Erik Sherman

GlobeSt

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