A look at the day ahead in U.S. and global markets from Mike Dolan The red hot U.S. jobs market appears to be cooling as Labor Day nears, offering ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSWatch onThe red hot U.S. jobs market appears to be cooling as Labor Day nears, offering investors some relief in juggling the chances of one more Federal Reserve interest rate hike.
Even though the central bank is expected to stand pat next month, policymakers will deliver quarterly forecast updates and undecided markets are still leaning toward the chance of another quarter-point rate hike in November - hitting the rate that officials projected in June they would need to reach eventually.
That combination dragged futures pricing back to showing roughly a 50-50 chance of another hike in November from a one-in-three chance before the reports. Two- and 10-year Treasury yields recoiled up to 15 basis points to 4.87% and 4.10% respectively - and they hovered just above there overnight. China's stock markets also stalled after a two-day rally, with U.S. Commerce Secretary Gina Raimondo claiming on her three-day visit to the country that many U.S. firms now see China as"un-investable".
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