Topic: Non-agricultural agriculture in April fell far short of expectationstedsarcade, non-agricultural products were revised down in February and March 2tedsarcade.20,000 people

Traders advanced expectations for the timing of the Fed's interest rate cut after U.S. Treasuries surged and April's non-farm payrolls data were weaker than expected.

The two-year yield, most closely linked to the Fed's policy outlook, fell 17 basis points to 4.71%, as traders digested the latest non-farm data. Traders now expect the Federal Reserve to cut interest rates as soon as September, after November earlier on Friday. At the same time, it is expected that there will be two 25 basis point interest rate cuts this year.

"The report shows that the situation is just right and will satisfy the Fed and the market," El-Erian, dean of Queen's College, Cambridge, said on Friday.

After Friday's data was released, swap market traders raised their expectations for the overall rate cut this year to about 50 basis points from about 41 basis points earlier.