CSOP USD Dollar Money Market Fund Wrap - 20240513

Last week, U.S. jobless claims soared to 231K for the week ending May 4, indicating a rise in layoffs.

However, it's premature to determine if this will result in a sustained increase that enhances the Fed’s readiness to slash interest rates, or if it's merely a compensatory move influenced by seasonal factors.

According to Bloomberg, if the unemployment rate escalates to 4.0% over the forthcoming two months, policymakers will be prepared to implement cuts by July.

Source: CSOP, Department of Labor, Bloomberg, as of 20240510. ^ Gross yield is based on annualized yield of underlying holdings. 7-day net yield is calculated based on calendar days and NAVs in 5-decimal.

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