Analysis: Initial jobless claims data confirms weak job market, Fed rate cut bets continue to rise

On Thursday, a U.S. government report showed that the number of initial jobless claims jumped to a nearly four-year high. The short-term interest rate futures market continued to increase its bets on Fed rate cuts, from expecting at least two rate cuts by the end of this year, to betting on four consecutive rate cuts from September to January next year, to fully pricing in three rate cuts this year, which means that the Fed will cut interest rates at all remaining meetings this year.