Group 1 - The U.S. job market and service sector are showing signs of slowdown, leading to increased bets on interest rate cuts [1][2] - The ADP reported that the U.S. private sector added only 37,000 jobs in May 2025, significantly below the market expectation of 110,000 and the revised 60,000 from April, marking the lowest level since March 2023 [1] - The ISM reported that the non-manufacturing PMI fell to 49.9 in May, the lowest since June 2024, indicating a contraction in the service sector, which constitutes about two-thirds of the U.S. economy [2] Group 2 - The market's expectation for a rate cut by the Federal Reserve has significantly increased, with the probability of a September cut rising from 53.5% to 77.5% [2] - The manufacturing PMI for May was reported at 48.5%, indicating a continued contraction for the third consecutive month [2] - Following the economic data release, President Trump called for an immediate rate cut from the Federal Reserve, highlighting the urgency of the situation [1]
疲弱经济数据推高降息预期 长期美债收益率下跌超过10BP
Xin Hua Cai Jing·2025-06-05 00:59