Bond Traders Wipe June Fed Hike Off Table on Job-Market Stunner
- Futures imply practically no chance of increase this month
- Data ‘shock’ makes July more likely than June: Bill Gross
Deep Dive Into the Disappointing U.S. Jobs Report
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Bond traders have a message for the Federal Reserve: Don’t even think about raising interest rates this month, and the window is closing on July too.
The world’s biggest debt market soared Friday, driving yields lower, after government data showed U.S. employers added the fewest workers in almost six years last month. For traders, the figures drove the final nail in the coffin as far as bets that the central bank would lift rates when it meets June 14-15.