Fed Rate Expectations Post Stronger Than Expected NFP - FJElite
Data- US Nonfarm Payrolls Actual 172K (Forecast 88k, Previous 115k, Revised 179k)
- US Unemployment Rate Actual 4.3% (Forecast 4.3%, Previous 4.3%)
- US Private Payrolls Actual 120k (Forecast 89k, Previous 123k, Revised 177k)
Sentiment- Traders price in additional Fed tightening after the May jobs data.
- US interest rate futures raise odds of a December rate hike after jobs data to 63% vs 48% just before.
- Traders price in Fed rate hike by January vs March previously.
- US rate futures still price in Fed on hold in June policy meeting
