Reported 11 months ago
A better-than-expected U.S. jobs report for May, revealing the addition of 272,000 new jobs and an increase in wages, challenges market expectations of a near-term interest-rate cut by the Federal Reserve. The report, which saw hourly earnings and year-on-year gains rise, makes it difficult for the Fed to consider rate cuts. The report's data impacts market reactions on stocks and Treasury notes, shifting bets on the timing of rate cuts highlighted by a decrease in the probability from the CME Group's FedWatch tool.
Source: YAHOO