J.P. Morgan changes first Fed rate cut to November from July

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The year started with the Fed projecting six rate cuts. On Wednesday next week, the Fed may lower that projection to one cut after today’s stronger-than-expected US jobs report.

J.P. Morgan is giving up on multiple breakouts by now seen the first Fed rate cut in November. They were projecting a July rate cut.

US yields remain higher on the day but still all their highest levels reached eight days ago:

  • 2 year yield 4.857%, +13.7 basis points. The high-yield 8-days ago reached 5.0%
  • 5-year yield 4.437%, +14.6 basis points
  • 10 year yield 4.413%, +13.3 basis points
  • 30-year yield 4.533%, +10.4 basis points

This article was written by Greg Michalowski at www.forexlive.com.

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