US jobs data shocks markets and lowers rate hike expectations

The US employment report for July showed an unexpected decline in new jobs, leading to a decrease in the likelihood of the Federal Reserve raising interest rates in September to around 65%. This weakness in the labor market negatively impacted Treasury bond yields and boosted investor optimism in the stock markets, with analysts suggesting that the data could delay or lessen the pace of rate increases. At the same time, experts point out that upcoming inflation data will remain the decisive factor, with the chances of interest rate hikes continuing throughout the year, especially in October and December.

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