The focus this week is waiting for the non-farm payrolls report, but there was a huge shock before the data was released. If the non-farm data performs poorly this time, even if the interest rate is cut by 50 basis points, it will trigger a decline.
The market currently expects a 37% chance of a 50 basis point rate cut - after a day and night of decline, the probability of a large rate cut expectation has hardly increased. Bigger waves are still to come, so stay tuned.
