Institutions: Fed likely to hold steady at October meeting

Odaily News: Spartan Capital Securities chief market economist Peter Cardillo said that nonfarm payrolls came in below expectations but still indicate a growing job market. Wages also showed no inflationary pressure, which is a positive factor. The rise in the unemployment rate may be due to an increase in the labor force participation rate. Overall, this report is favorable for the market. It may help ease the upward momentum in yields and also suggests the Fed does not need to worry about wage inflation. Combined with the lower-than-expected PCE price index released a few days ago, this means the Fed is very likely to continue holding steady at its October meeting. (Jinshi)