Payrolls Blowout Locks Zero-Cuts Conviction at 80.95%
The no-cuts contract holds at 80.95% as of 05:09 UTC Sunday after May's 172,000-job blowout doubled expectations and cemented the case against 2026 Fed easing.
The zero-cuts contract holds at 80.95% as of 05:09 UTC Sunday — up +3.20pp from the session open of 0.7775, peaked at a session high of 0.8305, and locked here for 11-plus hours. The catalyst: Friday's 172,000-job May payrolls print, more than double the 85,000 median forecast, with unemployment flat at 4.3%.
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