Nonfarm Payroll Data Validates Waller and Bowman’s Case for Rate Cuts: Signs of Weakness Emerge in the Labor Market
According to a report by Jinse Finance, U.S. labor data has fueled calls for monetary easing, leading to declines in both U.S. Treasury yields and the dollar. The 10-year Treasury yield stands at 4.295%, while the 2-year yield is at 3.801%. In July, the U.S. added only 73,000 jobs. The unemployment rate edged up slightly from 4.1% to 4.2%. Meanwhile, previous data was significantly revised downward: May’s job gains were cut from 144,000 to 19,000, and June’s from 147,000 to 14,000. Before the release of the employment report, dissenting Federal Reserve Governors Waller and Bowman noted signs of weakness in the labor market.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
4 Big Bank Earnings to Watch This Week as Wall Street Turns Bullish
Mortgage rates return to 7%, pending home sales in the US fall to nearly a twelve-year low
According to Freddie Mac data, the 30-year fixed mortgage rate has risen to 7.4%, the highest level in nearly three years. Data from real estate brokerage Redfin shows that the volume of existing home pending sales in September fell 4% month-on-month, marking the largest single-month drop in over three years and hitting the lowest level since 2014. Nearly one-fifth of sellers have reduced prices, and the home purchase contract cancellation rate has reached a record high of 14.5%. Inventory levels have risen to the highest since March 2020, but high financing costs continue to constrain transactions.
Mueller Water Products names Michael Morgan CFO, succeeding Melissa Rasmussen
GLD ETF Falls 0.6%
Crypto prices
More
