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Bond traders bring forward first Fed rate cut to November

Bond traders have brought forward expectations for the timing of the Federal Reserve's first interest rate cut by one month to November; the US will release employment data on Friday. This repricing came after the latest policy meeting of the Federal Reserve on Wednesday, during which short-term US Treasury bonds experienced their largest two-day rise since January. The yield on the most interest-sensitive two-year Treasury bond has fallen 17 basis points from its year-to-date high of 5.04% on Tuesday to 4.87%.

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