美国数据向好打压降息预期 美国短债下跌

Core Viewpoint - The article highlights that strong U.S. economic growth and employment data have diminished market expectations for two interest rate cuts by the Federal Reserve by the end of the year [1] Economic Growth - The U.S. second-quarter economic growth rate was revised from 3% to 3.3%, exceeding economists' expectations [1] - This revision indicates a robust economic performance, contributing to the overall market sentiment [1] Employment Data - Initial jobless claims decreased more than expected, signaling strength in the labor market [1] - This decline in claims supports the notion of consumer resilience despite tariff uncertainties [1] Market Reaction - Following the economic data release, yields on 2 to 5-year U.S. Treasury bonds rose by at least two basis points, reaching daily highs [1] - The front end of the U.S. Treasury yield curve is experiencing pressure regarding the necessity of a rate cut in September [1] Federal Reserve Outlook - According to Société Générale's U.S. interest rate strategy head, the data continues to undermine the necessity for rate cuts [1] - Despite Federal Reserve Chairman Jerome Powell's inclination towards a more dovish stance, the economic data is influencing market expectations against rate cuts [1]