Expectations of interest rate cuts have plummeted sharply! "Term premium" hovering in the market, US bond bulls staged a "mass retreat"

According to the Wall Street Journal, since last week, global bond futures traders have been unwinding some large bullish bets on the US Treasury market. Following the unexpectedly strong non-farm payroll report released last week, and with US President Trump threatening to further increase tariffs on countries in a letter sent this week, inflation prospects are facing considerable uncertainty. As a result, global traders have significantly reduced their expectations for a rate cut by the Federal Reserve.