Non-Farm Payrolls Data Far Exceeds Expectations, Traders Trim Fed Rate Cut Bets

BlockBeats News, February 11th, after the January Non-Farm Payrolls report was released, U.S. short-term interest rate futures fell. Currently, traders expect the probability of the Fed cutting interest rates before April to be only 20%, significantly down from around 40% before the data was released. Although they are still betting that the Fed will cut rates again in June, they believe that the probability of standing pat at that time has risen to nearly 40%, compared to about 25% before the jobs report was released. (FX678)