The Federal Reserve's "interest rate tug-of-war" is still not over, and the September non-farm payroll data exceeded expectations

According to Jinshi News, Wasif Latif, President and Chief Investment Officer of Sarmaya Partners, stated that the U.S. non-farm payroll data for September far exceeded expectations, and the market is adjusting and re-evaluating the Federal Reserve's "interest rate tug-of-war." Currently, the "no rate cut" camp has the upper hand, but the game is not over yet. As data continues to be released, this tug-of-war will persist. Although the September data performed reasonably well, the key lies in the October data; if it shows a weaker labor market, it will shift the market towards rate cut expectations.