US Running Above Breakeven Employment: BofA's Caban

Mark Cabana, co-head of global rates research at BofA Securities, discussed the US employment situation and Federal Reserve policy on Bloomberg's "Real Yield." He joined Jamie Patton, co-head of global rates at TCW, to analyze Citigroup's updated forecast for Federal Reserve interest-rate cuts. Citigroup now anticipates the first rate cut to occur in October, a shift from their previous projection of September. This revised outlook is attributed to the Federal Reserve's updated economic forecasts, which were released on Wednesday alongside the decision to maintain current interest rates. The discussion also touched upon the broader economic implications of these policy decisions and employment trends.