Weak non-farm data intensifies the Fed's rate cut expectations for September

ChainCatcher news, according to Jinshi reports, after the significant downward revision of the U.S. non-farm data in July, the non-farm payroll data for August again came in significantly below expectations. The JOLTS and ADP employment data released this week both showed weakness, and overseas markets expect the BLS to make substantial downward revisions to the non-farm benchmark data, essentially solidifying the Fed's rate cut expectations for September. Following the data release, the 2-year U.S. Treasury yield fell by about 11 basis points, the dollar index weakened, and the cooling pressure on the economic fundamentals led to adjustments in the U.S. stock market.