TechFlow, December 20 — According to Jinshi Data, the U.S. inflation rate in November was significantly lower than economists' forecasts, while the unemployment rate rose unexpectedly during the month. Due to distorted and incomplete data caused by the 43-day federal government shutdown, investors have been reluctant to read too much into these figures. Michael Lorizio, Head of U.S. Rates and Mortgage Trading at Manulife Investment Management, said: "Even taking that into account, this highlights there is very limited room for inflation data to rise sharply above expectations. If the labor market continues on its current trajectory—unemployment rising by 0.1 percentage point per month—I think the potential for further rate cuts next year may be somewhat underestimated."
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