Nonfarm Payrolls Beat Expectations; Fed December Rate Hike Odds Rise to 80%

According to TechFlow, on November 06, the U.S. government employment report released Friday showed that last month's job growth was stronger than expected, prompting traders to further bet that the Fed will raise rates again in December. The report showed the U.S. unemployment rate fell slightly to 4.1%, and businesses added 165,000 new jobs, more than double economists' expectations. After the report was released, futures contracts linked to the Fed's policy rate showed the market expects about an 80% probability that the Fed will raise rates by 25 basis points next month. Before the report, traders' odds for a December Fed rate hike were about 75%. (Jin10)

Source: TechFlow