Bank of America: Strong nonfarm payrolls report could push rate hike expectations

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ME News, June 29 (UTC+8), after three months of steady growth, Bank of America Securities expects nonfarm payrolls to increase by a substantial 110k in June, mainly due to mild initial jobless claims and strong ADP employment data. However, they also see downside risks. The surge in leisure and hospitality in May may have been affected by the World Cup or Memorial Day. If it's the latter, then June's employment figures may pull back. They added: "A strong employment report could make the market more inclined towards our previously forecast three rate hikes in 2026." (Jin Shi) (Source: ODAILY)
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