Fed Rate Cut Bets Decrease: Probability of No Cut or One Cut Rises to 34%

After the stronger-than-expected May non-farm payroll report was released on Friday, Wall Street traders reduced their bets on rate cuts. According to CME data, the likelihood of three or more 0.25 percentage point rate cuts this year fell from 36% on Thursday to 25%. The probability of one or no rate cuts rose from 25% to 34%. (Jin10)