Predictions for the Nonfarm Payrolls report (NFP) see an addition of 200K jobs in February, which will mean a deceleration from January’s reading. Wage inflation measured by the Average Hourly Earnings and the Unemployment Rate will also be studied.
Other key employment figures set to be released this week include JOLTs Job Openings and ADP Employment Change from February and weekly Jobless Claims.
Market predicts no likelihood of a rate reduction at the impending March 20 meeting, with the probability escalating to 25% on May 1 and reaching 90% for the June meeting.
US Treasury bond yields are up and trading at 4.59% for the 2-year, 4.20% for the 5-year, and 4.22% for the 10-year bonds, which may limit the downside for the session.
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