On the eve of non farm payroll, the main force of ETH has already laid out over 77 million US dollars in advance

Spot gold fell by $20 in the short term, now trading at $4114.81 per ounce; The US dollar index DXY rose nearly 20 points in the short term and is now at 100.72.

Bloomberg senior ETF analyst Eric Balchunas stated that 214 new products were issued in the ETF market in June, setting a new historical record; The monthly ETF trading volume reached $7 trillion, the second highest level in history; The net inflow of ETF funds in the current month reached 191 billion US dollars, the second highest single month level in history, with an average daily inflow of about 9 billion US dollars, covering about 2700 different funds.

Romm, a reporter for The New York Times Economic Review, said that the latest employment report had a decent performance for the White House, with little change in the unemployment rate and stable or slightly growing manufacturing. This recruitment data provides a bright spot for the government to alleviate voters' dissatisfaction with the economy amid inflationary pressures and the Iran War.

The weakening of non farm payroll data and the downward revision of previous values have led to a greater decline in the yield of 2-year and 3-year US Treasury bonds than in the long end. The market's expectation of the necessity for the Federal Reserve to continue raising interest rates has decreased, and the curve has become slightly steeper. AI interpretation: The slowdown in employment growth and the downward revision of the previous value together constitute ironclad evidence of the cooling of the labor market. This data directly weakened the confidence of the Federal Reserve in maintaining its tightening policy, and the market quickly corrected its aggressive pricing of interest rate paths. The significant decline in short-term US bond yields reflects investors' firm expectations for the end of the interest rate hike cycle. This market reaction marks a shift in funds from defensive assets to bets on a shift in monetary policy, and the steepening of the yield curve clarifies the consensus in the market that economic growth momentum is weakening.

Nick Timiraos pointed out that the US unemployment rate in June was 4.189%, the lowest level since 4.140% in June last year. AI interpretation: The unemployment rate dropping to a new low in a year directly proves the extreme tightness of the US labor market. This strong performance completely shattered concerns about an economic recession and provided solid confidence for the Federal Reserve to maintain its high interest rate policy. The market must revise its overly aggressive expectations of interest rate cuts, as the hot job market directly increases the risk of wage inflation. This data is the strongest footnote to economic resilience, clearly blocking the space for monetary policy to shift towards easing in the short term.