Financial Brief — Treasury yields slip as rate-cut bets firm

Bond markets rallied as the latest payrolls miss reshuffled the rate path. Fed funds futures now imply a 68% chance of a cut by September, up from 52% a week ago. **Key moves** - 2Y: 4.62% (-3bps) - 10Y: 4.18% (-4bps) - 30Y: 4.36% (-3bps) Corporate credit tightened in sympathy, with IG spreads at the tightest since February.