U.S. labor market slows further as markets increase bets on Fed rate cuts

Odaily Planet Daily News: U.S. Treasury yields fell after data showed a further slowdown in the U.S. labor market, boosting Wall Street's bets on the Federal Reserve to cut interest rates. U.S. Treasuries climbed across the board after reports showed U.S. job openings fell to their lowest level since early 2021 in July and layoffs increased. Federal Reserve interest rate swaps show the Fed will further ease monetary policy in 2024. Chris Larkin of Morgan Stanley E*Trade said: "The market may not be as nervous as it was a month ago, but they are still looking for evidence that the economy has not cooled too much. So far this week, they have not been confirmed." (Jinshi)