After the non-agricultural data was released, international gold rose in the short term and turned to decline, now falling 0.45% to $1,437.84 per ounce. The US dollar index DXY rose slightly in the short term and fell, now falling 0.14% to 98.23.

htmlOn August 2, the U.S. Department of Labor released the U.S. July non-farm report, and the employment data meet expectations.

data shows that the U.S. non-farm employment increased by 164,000 in July, the same as expected, and last month it was 224,000.

The U.S. unemployment rate in July was 3.7%, the same as the previous value and expected value.

After the non-agricultural data was released, international gold rose in the short term and turned to decline, now falling 0.45% to $1,437.84 per ounce.

USD Index DXY rose slightly in the short term and fell, now falling 0.14% to 98.23.

bond market bets on the Federal Reserve cut interest rates twice this year?

After the non-farm data was released, according to CME "Federal Observation", the probability of the Federal Reserve maintaining interest rates of 2.00%-2.25% in September is 11.2%, and the probability of cutting interest rates by 25 basis points is 88.8%; the probability of maintaining interest rates by 2.00%-2.25% by October is 4.5%, and the probability of cutting interest rates by 25 basis points and cutting interest rates by 50 basis points is 42.3% and 53.2% respectively.

After the Fed cut interest rates for the first time in 10 years, the global negative yield bond scale reached a record $14.1 trillion, which in the eyes of some analysts, is not conducive to asset prices and the real economy. At the same time, many analysts pointed out that the US bond market, which is an important part of the global bond market, has begun to bet on the Fed to continue to cut interest rates due to expectations of low inflation.

In addition, US President Trump brings the latest uncertainty to the global trade situation, and the possibility of a US economic recession has increased accordingly, which has also increased the probability of the Federal Reserve further cuts interest rates. Arthur Bass, managing director of the fixed income division financing, futures and interest rates at Wedbush Securities, admitted that the bond market is currently pricing the Fed will cut interest rates twice this year. However, he also said that this situation will change rapidly as the market's risk sentiment changes. And this may cause U.S. Treasury yields to continue to fall.