Société Générale: The Fed Has Even More Reason to Hold Steady in January

Odaily News Société Générale's Head of US Interest Rate Strategy, Subadra Rajappa, commented on the US non-farm payrolls: The current focus is primarily on the unemployment rate, as the pace of job growth has been slowing. The decline in the unemployment rate and the increase in wages provide even stronger justification for the Fed to keep interest rates unchanged in January. However, the bond market's reaction to this significant data point has been relatively muted. No news might be good news for risk assets. (Jin10)