Non-farm data far exceeds expectations, traders cut back on Fed rate cut bets

Odaily Planet Daily reports that after the January non-farm employment report was released, U.S. short-term interest rate futures declined. Currently, traders estimate only a 20% chance that the Federal Reserve will cut interest rates before April, significantly down from about 40% before the data was announced. Although they still bet on the Fed cutting rates again in June, the probability of holding steady at that time has risen to nearly 40%, compared to approximately 25% before the employment report was released. (Jin10)