Traders Trim Fed Rate Hike Bets on Softer Jobs Data
Traders are reducing their wagers on further Federal Reserve interest rate increases following a September jobs report that fell short of expectations and showed a rise in the unemployment rate, suggesting a cooling job market.
Traders on Friday pared expectations for a Fed rate hike after government data showed September job gains came in below forecasts and the unemployment rate rose, suggesting a cooling labor market could give policymakers more reason to wait.