BlackRock Portfolio Manager Jeffrey Rosenberg: The US non-farm payrolls report shows that the views of Federal Reserve Governor Waller's faction may be gaining the upper hand or persuading more people to support interest rate cuts. They may have missed the July opportunity, but this greatly increased the possibility of cutting interest rates in September. This is why we are seeing a sharp decline in the front end of the yield curve.

BlackRock Portfolio Manager Jeffrey Rosenberg: The US non-farm payrolls report shows that the views of Federal Reserve Governor Waller's faction may be gaining the upper hand or persuading more people to support interest rate cuts. They may have missed the July opportunity, but this greatly increased the possibility of cutting interest rates in September. This is why we are seeing a sharp decline in the front end of the yield curve.