Felipe Villarroe, portfolio managing partner at TwentyFour Asset Management, said the US non-farm payrolls data for August, which will shape not only the direction of short-term interest rates but also the market's perception of whether Fed officials' decisions are politically biased, was crucial to expectations of future rate cuts.
"Long-term bonds will react negatively if the market perceives the Fed's decision-making as politically influenced," he warned. Analysts widely expect the US to add 75,000 non-farm payrolls in August, according to a Wall Street Journal survey.
Institution: Tonight's interest rate cut expectations and Federal Reserve independence are both being tested
2025-09-05 08:52:08
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