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Odaily Planet Daily reports that U.S. Treasury prices rose following a weaker-than-expected non-farm payrolls report, as traders lowered their expectations for Federal Reserve rate hikes in the coming months. The yield on the two-year Treasury note, most sensitive to monetary policy changes, fell 6 basis points to 4.11%, while the yield on the 10-year Treasury note fell 2 basis points to 4.46%. Interest rate swap data shows the market expects about a 20% chance of a rate hike at the Fed's meeting later this month, down from 33% before the data release. The market expects fewer than two Fed rate hikes by March 2027, with each hike not exceeding 25 basis points. Non-farm payrolls increased by 57,000 last month, after the figures for the previous two months were revised downwards, while economists surveyed by Bloomberg had expected an increase of 113,000. The unemployment rate fell to 4.2% due to a sharp decline in the labor force participation rate. (Jinshi)

According to Odaily Planet Daily, Investinglive analyst Adam Button pointed out that the US non-farm payrolls increased by 57,000 in June, lower than the expected 110,000. This report was disappointing. While the unemployment rate fell to 4.2%, which seems good on the surface, the labor force participation rate declined by 0.3 percentage points. Specifically, considering the impact of the World Cup, the 55,000 decrease in jobs in the accommodation/food service industry was truly unexpected. This is completely contrary to expectations and economists' model predictions. (Jinshi)