Jobs Report "Soft" Under the Surface, Markets Pricing In 1-2 Fed Rate Cuts

Charles Schwab's Cooper Howard says the May jobs report didn't come in as bad as everyone expected, but there's more to see beyond the surface number. Cooper points out that 80% of gains were driven by just three sectors in the job market. Turning to the Fed, he sees treasuries pricing in one or two FOMC rate cuts, which he sees as reasonable.

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