Trump has repeatedly pressured the Fed to cut rates, something that could boost bond portfolios, including his own.

The bigger risk the analysts are pointing to is structural. As analyst Jim Bianco explained on X, the Fed’s seven governors must reapprove—or veto—all 12 regional Federal Reserve Bank presidents when their five-year terms expire in February 2026.

Bond-market participants are likely to look poorly upon any interest-rate cut soon from the Federal Reserve, given the current trajectory of U.S. inflation, according to one strategist. In an email on Tuesday,

Stocks surged Friday and the Dow closed at its first record high of the year after Federal Reserve Chair Jerome Powell signaled interest rate cuts could be on the way.

David Zervos, Jefferies chief market strategist, joins CNBC's 'Closing Bell' to discuss Fed Chair Jerome Powell's dovish pivot, policy expectations, and much more.

Two of the last few remaining Wall Street holdouts on the Fed easing next month have finally conceded defeat and now expect the central bank to reduce interest rates at its next meeting.