Yesterday's data brought some negative news, along with Fed Chairman Bostic's announcement that interest rates will be cut in the fourth quarter. However, two important data points still need to be watched: next week's nonfarm payrolls and the following week's CPR data.

In May, the actual nonfarm unemployment rate was 3.96%, slightly higher than the expected 3.9%.

Estimated June

Based on current market expectations, the estimated US nonfarm payrolls in June 2024 are approximately 180,000. While this was lower than the actual figure of 272,000 reported in May, it was still higher than the 175,000 recorded in April. Projected nonfarm payrolls data for June showed positive outlook.

Stay tuned for these important updates as they will provide further insight into the economic landscape and potential market developments.

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