Tom Lee: Probability of September Rate Hike Drops Below 40% Following Jobs Report

Odaily News – Tom Lee posted on X, stating that the market's significant "dovish" reaction to the July jobs report is another example of the market suffering from "inflation confusion syndrome." His view is that inflation is on a downward trajectory; the market had previously been impatient and overly hawkish. Following the release of the jobs report, the probability of a September rate hike has fallen below 40%, compared to 75% just two weeks ago, when many economists had advocated for an early rate hike. Do not fight the last war.