Group 1 - The U.S. Treasury yields fell significantly as investors expect the Federal Reserve to implement larger rate cuts to support a slowing job market [1][2] - The August non-farm payroll report indicated a stagnation in the labor market for four consecutive months, with a rare downward revision of June's data showing a net decrease in jobs [1] - Market expectations for a 50 basis point rate cut in September have risen to 10.2%, compared to 0% the previous day, while the probability of a 25 basis point cut stands at 89.7% [1] Group 2 - The weak job market has reignited concerns about potential recession risks, with investors adjusting their growth and earnings expectations [2][3] - Despite initial optimism in the market, the weak data led to a reassessment of corporate earnings and economic growth prospects [3] - Short-term volatility is expected, but support from rate cuts and fiscal policies may provide upward momentum for the stock market by 2026 [2][3]
美债收益率大幅下跌 就业数据疲软引发市场押注美联储加快降息
Zhi Tong Cai Jing·2025-09-05 23:28