TechFlow reported on January 9 that Lindsay Rosner, Head of Multi-Sector Fixed Income Investments at Goldman Sachs Asset Management, commented on the U.S. non-farm payroll data: Goodbye January! The Federal Reserve will likely maintain its current stance as the labor market has shown initial signs of stabilization. The improvement in the unemployment rate suggests that the sharp rise in November was due to individual employees leaving earlier than planned because of "deferred departure" policies and data distortions, rather than a sign of systemic weakness. We expect the Fed to remain on hold for now, but anticipate two additional rate cuts by the end of 2026. (Jinshi)
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