Following the release of ADP data, the probability of a 25 basis point rate cut by the Federal Reserve in December remained largely unchanged compared to before the data release.

According to CME's "FedWatch," the probability of the Federal Reserve cutting interest rates by 25 basis points in December is 88.8%, while the probability of keeping rates unchanged is 11.2%. The probability of the Fed cumulatively cutting rates by 25 basis points by January next year is 63.0%, the probability of keeping rates unchanged is 7.5%, and the probability of cumulative rate cuts of 50 basis points is 29.5%. (Jinshi)