Unemployment Insurance Claims Reach New Highs
Following the report, futures associated with the Fed's policy rate experienced an increase. The report revealed that last week's unemployment insurance claims had risen to their highest since October 2021.
Traders Anticipate Fed Rate Cuts Starting in September
As a result of these developments, rate futures now suggest a slight possibility of a Fed rate cut in June by a quarter of a percentage point from the current benchmark range of 5%-5.25%. Traders have also increased their bets on Fed rate cuts commencing in full force in September.