UBS says the US Federal Reserve remains on track to cut rates twice this year

UBS (Global Wealth Management) on its outlook for the Federal Open Market Committee (FOMC) and bonds:

• “While we have recently lowered our expectations on the timing and magnitude of Fed rate cuts, we believe the US central bank remains on track to cut rates twice this year, most likely starting at its September meeting."
• "This means the return outlook for quality bonds remains positive and attractive, and that recent losses in fixed income are likely to be temporary.”
• “We continue to favor quality bonds in our global portfolios and recommend investors lock in attractive yields before rates fall this year.”

I posted yesterday on my thought for a September rate cut:

• Have expectations for the FOMC swung too far away from rate cuts this year?