According to Jinshi data, the non-farm payroll report performed poorly, and futures market traders are leaning towards more rate cuts in 2025. Traders expect the Federal Reserve to cut rates by 25 basis points in September.
By the end of this year, the probability of three rate cuts is 71%, an increase from the previous day's 46%. The likelihood of the Federal Reserve cutting rates once or fewer before the end of the year has decreased from 7.9% to 1.5%.