Stocks Tips:US labour market's 'remarkable recovery' reinforces 2016 rate-hike expectations

UOB Group says the US economy's "remarkable recovery" in June bolsters its expectations of at least one rate hike this year, specifically in December.

The US economy added a "massive" 287,000 jobs in June, which is well above the Bloomberg consensus forecast of 180,000, according to UOB.

In a Friday note, senior economist Alvin Liew says this figure "definitely reinforces" UOB's expectations of one 25-basis points hike to result from the US Federal Reserve's 13-14 December Federal Open Market Committee (FOMC) this year.

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