Asian equities were set to climb Friday following fresh highs for US stocks as strong jobs data eased concerns the economy slowing down. Treasuries fell and the dollar rose Thursday in a sign traders see less pressure on the Federal Reserve to cut interest rates after US jobs growth exceeded expectations in June. Swap traders saw almost no chance of a July Fed cut, compared with a roughly 25% probability seen before the data. The chance of a move in September ebbed to about 70%. We get reaction from Rob Haworth, Senior Vice President and Senior Investment Strategy Director at U.S. Bank Asset Management Group.
Plus - US markets closed prior to the House passing President Donald Trump's tax bill that had weeks earlier sparked concerns over rising deficits. Separately, Trump also said his administration may begin sending out letters to trading partners as soon as Friday setting unilateral tariff rates ahead of a July 9 deadline for negotiations. Before the vote, we heard from Treasury Secretary Scott Bessent. He spoke with Bloomberg's Romaine Bostick and Matt Miller.
See omnystudio.com/listener for privacy information.
