ADP report shows US labor market slowing, rate cut bets exceed 60%
ChainCatcher news, according to Golden Ten Data, ADP employment data shows that the U.S. labor market is slowing down, leading to a sharp rise in U.S. Treasury futures and a decline in the U.S. dollar index. U.S. 10-year Treasury futures rose, with the implied yield falling by 4 basis points from Monday's close of 4.12%. Bets on a Federal Reserve rate cut in the currency market have increased, with pricing showing more than a 60% chance of a rate cut next month.
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