MARKET UPDATE 📊

The market sentiment has shifted dramatically, with bulls facing a setback and shorts potentially in for a rough ride 🤯. Derivatives traders are increasingly confident that the Federal Reserve will cut interest rates twice this year 📉. Despite a strong jobs report, downward revisions and rising unemployment have kept expectations high for Fed intervention 🤝.

Derivatives markets now reflect a 100% likelihood of two rate cuts in 2024, with a 76% chance of the first cut coming in September 📊. Analysts like Jeff Klingelhofer believe there's still room for U.S. bonds to rally, citing Jerome Powell's inclination towards gradual easing 💰. Concerns over inflation risks and economic slowdown are bolstering expectations for monetary easing 🤔.

Stay tuned for upcoming inflation and economic data, which will be crucial in solidifying expectations for a September rate cut 📊!

#Write2Earn! #US_Job_Market_Slowdown #SOFR_Spike #VanEck_SOL_ETFS #MtGoxJulyRepayments