Overview:
April JOLTS data showed 7.6 million job openings, beating the 7.3 million consensus estimate and holding well above levels that would concern the Federal Reserve, sending the 10-year Treasury yield up to 4.51% in pre-market trading. S&P 500 futures slipped 0.3% following the release as traders repriced the probability of a September rate cut lower. The dollar index held near 99.2, little changed,
April JOLTS data showed 7.6 million job openings, beating the 7.3 million consensus estimate and holding well above levels that would concern the Federal Reserve, sending the 10-year Treasury yield up to 4.51% in pre-market trading. S&P 500 futures slipped 0.3% following the release as traders repriced the probability of a September rate cut lower. The dollar index held near 99.2, little changed, while fed funds futures now imply just a 54% chance of a cut by the Fed’s September meeting.
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