According to BlockBeats, on August 18, traders have revised their expectations for significant rate cuts by the Federal Reserve this year following new data indicating the resilience of the US economy. This adjustment has led to a surge in US Treasury yields. The latest data has prompted traders to reduce their bets on a substantial rate cut by the Federal Reserve in September, now anticipating a reduction of less than 30 basis points next month. For the remainder of 2024, traders now expect the Federal Reserve to cut rates by a total of 92 basis points, down from over 100 basis points before the data release.