Non-farm payroll data significantly exceeds expectations, traders reduce bets on Fed rate cuts

Odaily News After the release of the January non-farm payroll report, U.S. short-term interest rate futures fell. Traders now estimate the probability of the Fed cutting rates before April is only 20%, significantly lower than the approximately 40% before the data release. Although they still bet the Fed will implement the next rate cut in June, they believe the probability of no action at that time has risen to nearly 40%, compared to about 25% before the employment report was released. (Jin10)