Traders are currently betting on the Federal Reserve to cut interest rates by a cumulative 44 basis points by December

Odaily News U.S. Treasuries rallied following a disappointing jobs report, boosting market expectations for Fed rate cuts this year, despite recent oil price increases potentially exacerbating inflation. This rally pushed the 10-year Treasury yield down by 3 basis points to 4.1%; the more policy-sensitive 2-year Treasury yield fell by 5 basis points to 3.53%. Interest rate swap data shows traders are now betting that U.S. policymakers will cut rates by a cumulative 44 basis points by December, compared to an expectation of 35 basis points before the report's release. (Jin10)