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The latest US labor market data, which shows a decline in initial jobless claims to their lowest level since April, has dampened expectations of a rapid easing of monetary policy by the Federal Reserve. This continued strength in the labor market is pushing up interest rates on US government bonds. The yield on ten-year Treasuries climbed five basis points to 4.43%, suggesting that financial markets now expect fewer than two interest rate cuts this year. Despite this development , stock markets, as represented by the S&P 500 , remained close...