Traders increase bets on Fed rate cut after U.S. job openings fall
futures traders for the Federal Reserve increased their bets on further interest rate cuts on Tuesday, after a government report showed a decrease in job openings last month, which could be a sign of further cooling in the job market. The futures contracts show that traders are increasingly confident that the Fed will cut rates by 25 basis points at each of the next two meetings, and further cuts next year. Traders have reduced their bets on a pause in rate cuts in November to around 2%.
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