TechFlow news, on October 9, according to Jinshi Data, Citigroup analysts stated in a report that although recent labor market data may have prompted some market participants to reconsider their expectations for Fed rate cuts, the likelihood of the Fed skipping a rate cut during its November meeting remains low.
Despite last Friday's nonfarm payrolls rising significantly by 254,000—well above economists' expectations of 140,000—analysts remain skeptical that the strong jobs report released last Friday will persist. Citigroup noted that a previous string of weak labor market data had led markets to expect the Fed to cut rates by at least 25 basis points at each meeting, and potentially deliver larger 50-basis-point cuts.
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