ICYMI - PIMCO now expect just 2 Federal Reserve rate cuts this year. Were previously at 3. ...Middle East

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ICYMI - PIMCO now expect just 2 Federal Reserve rate cuts this year. Were previously at 3.
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Friday's jobs report from the US, nonfarm payrolls, was sizzling:Forexlive Americas FX news wrap: US dollar jumps on hot NFP and then gives it backBond giant Pacific Investment Management Company (PIMCO) has dialed back its forecast for Federal Open Market Committee (FOMC) rate cuts this year. The previous PIMCO projection was for 3, but they've dialled that back to 2 now as thier 'base case'. A PIMCO rep spoke with Reuters after the NFP numbers on Friday:this means a little bit less out of the Fed the economy is proving for now that it can handle higher ratesChecking FedWatch you'll see the pricing for a June rate cut is now bordering on a coin toss. I reckon the likelihood is closer to 10%

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