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

Odaily News U.S. Treasury bonds rose after the 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 3 basis points to 4.1%; the more policy-sensitive 2-year Treasury yield fell 5 basis points to 3.53%. Interest rate swap data shows traders are currently 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. (Jin10)