June nonfarm payrolls came in at just 57,000 — less than half the 115,000 consensus — with prior months revised lower too. Stocks are holding up (S&P 500 roughly flat-to-green) as traders are now betting a weakening labor market could force the Fed to soften its hawkish stance. Reminder: markets are closed Friday July 3 for Independence Day. Not financial advice. Does a soft jobs print change your outlook on rates for the rest of 2026?
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