Markets cut bets on Fed rate cut as U.S. employment remains strong
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Planet News: U.S. non-farm employment data on May 2nd showed an increase of 177,000 jobs, exceeding expectations, and tariff uncertainty did not affect the the job market. The two-year Treasury yield rose 7 basis points to 3.77%, causing traders to reduce rate cut expectations, with the projected rate cut for 2025 decreasing from 90 basis points to approximately 85 basis points. (Jinshi)
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