Topic: Non-agricultural agriculture in April was far lower than expected, and non-agricultural agriculture in February and March was revised down by 2slotsonlinerealmoney.20,000 people
Traders advanced expectations for the timing of the Fed's interest rate cut after U.S. Treasuries surged and April's non-farm payrolls data were weaker than expected.
The two-year yield, most closely linked to the Fed's policy outlook, fell 17 basis points to 4.71%, as traders digested the latest non-farm data. Traders now expect the Federal Reserve to cut interest rates as soon as September, after November earlier on Friday. At the same time, it is expected that there will be two 25 basis point interest rate cuts this year.
"The report shows that the situation is just right and will satisfy the Fed and the market," El-Erian, dean of Queen's College, Cambridge, said on Friday.
Swap market traders improved after Friday's data releaseslotsonlinerealmoneyExpectations for the overall rate cut this year have increased from about 41 basis points earlier to about 50 basis points.