Huatai Securities: Maintains the judgment of two preemptive rate cuts by the Federal Reserve in September and December

ChainCatcher news, Huatai Securities stated that the new non-farm data in June exceeded expectations again, and the probability of the Federal Reserve cutting interest rates in July further decreased. However, considering the drag of tariffs and slowed immigration on new employment in the third quarter, we maintain our judgment of two preemptive rate cuts by the Fed in September and December.