TechFlow news, June 6 — According to Jinshi Data, institutional analysts commenting on the U.S. nonfarm payroll report stated, "Strong U.S. wage data could further reduce rate cut expectations and negatively impact the front end of the yield curve. Overall, we believe the employment data reinforces our view that the Fed will 'hold its ground'—at least through the fourth quarter of this year." Analysts noted that modest wage growth and a stable unemployment rate of 4.2% clearly leave the Fed on hold, so the market's fully priced-in probability of a Fed rate cut in September is expected to fall back to around 75%.
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