Strong U.S. Employment Reduces Market Bets on Fed Rate Cuts
The U.S. non-farm employment data for May 2 shows an increase of 177,000 people, exceeding expectations, with tariff uncertainty not affecting the job market. Over two years, the Treasury yield rose by 7 basis points to 3.77%, leading traders to reduce rate cut expectations, with the expected rate cut in 2025 decreasing from 90 basis points to about 85 basis points. (Jin10)
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