Yen Surge Hits Japanese Shares, Korea Rises on AI: Markets Wrap

Treasury Returns rose after warmer than expected weather US employment report reinforced the speculation that bets on Federal Reserve Next year's rate cuts may have gone too far.

All around financial world, the prevailing view is that while the strength of the labor market makes investors less anxious about a recession (at least for now), it also means the Federal Reserve might have to keep rates higher for longer. This is also a disappointment for traders who were once betting that the central bank could turn around as early as March. Exchange contracts They now show a 40% chance of that happening, up from more than 50% before the report.

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