Some brokerages postpone Fed rate cut bets after resilience in US jobs data

May 5 (Reuters) - Major brokerages, including Goldman Sachs and Barclays see a later start to the U.S. Federal Reserve's easing cycle after stronger-than-expected jobs report signaled resilience in the U.S. labor market as President Donald Trump's protectionist trade policy heightens economic uncertainty.

Data on Friday showed non-farm payrolls increased by 177,000 jobs last month after rising by a downwardly revised 185,000 in March, while economists polled by Reuters forecast payrolls advancing by 130,000 jobs in April.

Barclays and Goldman Sachs said on Friday that they were expecting the central bank to deliver the next interest rate cut in July as compared to their previous forecast of a June cut.
Currently, traders, on average, expect rate cuts totaling 80 basis points for the year, according to data compiled by LSEG.

Compiled by the Broker Research team in Bengaluru; Editing by Anil D'Silva, Mrigank Dhaniwala, Tasim Zahid and Krishna Chandra Eluri

Reuters

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Some brokerages postpone Fed rate cut bets after resilience in US jobs data

By Reuters

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