Barclays, BNP Paribas eye two Fed rate cuts this year after Jackson Hole

Barclays had previously only penciled in just one rate cut for December while BNP Paribas was not expecting the Fed to cut rates at all this year before this. It's clear that Fed chair Powell's speech on Friday is being treated as a pivot of sorts. But now, all eyes will be on the US jobs report on 5 September to seal the deal.