Yesterday's data brought some negative news, compounded by Fed President Bostic's announcement that interest rates will be cut in the fourth quarter. However, two key data points remain to be watched: next week's non-farm payrolls and the CPR data the week after.

In May, the actual non-farm unemployment rate was 3.96%, slightly above the expected 3.9%.

June Estimates

Based on current market expectations, the estimated non-farm payrolls for the United States in June 2024 is approximately 180,000. While this figure is lower than the actual 272,000 reported in May, it is still higher than the 175,000 recorded in April. The anticipated non-farm payrolls data for June suggests a positive outlook.

Stay tuned for these crucial updates, as they will provide further insight into the economic landscape and potential market movements.

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