Market expectations change in an instant! Will the Federal Reserve only cut interest rates once next?

On Friday, the bond market saw a shift in expectations regarding the Fed's interest rate cuts, with traders believing that the likelihood of two rate cuts has decreased. The probability of interest rates remaining unchanged in November or December is around 20%. Despite strong employment data being released, the market still implies a probability of over 50 basis points rate cut by the end of the year. The rise in US bond yields reflects the reasons why economic reports have not supported a significant easing of monetary policy. Investors are becoming more conservative in their expectations of the number of Fed rate cuts, with more bets on only one rate cut