[Morgan Asset Management expects the return on U.S. Treasury bonds to be 7%-8% in the next 12 months] On October 27, Bob Michele of J.P. Morgan Asset Management predicted that the return on the U.S. Treasury market may be around 7% to 8% in the next 12 months. Michele, chief investment officer and global head of fixed income at Morgan Asset Management, said at an event in Singapore, "The U.S. bond yield curve is close to 5%, and the short-end yield is slightly below this level." Therefore, "we first expect bond prices to rise, coupled with the gains during the holding period." Michele believes that the long end of the U.S. bond yield curve has the most investment value. He also said that although the Federal Reserve will not raise interest rates this week, it is likely to send a hawkish signal again in December. Michele said the Fed "will send a signal that it is still in a rate hike cycle. This will be good for the long end of the yield curve, because the market hopes that the Fed will continue to be vigilant about inflation risks, and actual yields are currently too high."