The U.S. job market is strong, and the market is reducing bets on a Federal Reserve rate cut

ChainCatcher news, stronger than expected U.S. employment data shows that tariff uncertainty has not yet had a substantial impact on the U.S. job market, prompting traders to reduce bets on Federal Reserve rate cuts, leading to a decline in U.S. Treasury bonds.

After non-farm payrolls increased by 177,000, the two-year Treasury yield rose by 7 basis points to 3.77%. Traders cut their bets on Federal Reserve rate cuts, expecting an overall reduction of about 85 basis points this year, compared to the pre-report expectation of around 90 basis points.