Weak non-farm data intensifies expectations for a Fed rate cut in September

ChainCatcher news, according to Golden Ten Data, after the downward revision of the US non-farm payroll data for July, the newly added non-farm payroll data for August once again fell significantly short of expectations. The JOLTS and ADP employment data released earlier this week also showed weakness, and overseas markets expect the BLS to make a substantial downward revision to the benchmark non-farm data, which has basically established the expectation of a Federal Reserve rate cut in September. After the data was released, the yield on the 2-year US Treasury fell by about 11 basis points, the US dollar index weakened, and the pressure from a cooling economic fundamental led to an adjustment in US stocks.