Following the release of the non-farm payrolls data, the probability of the Federal Reserve maintaining interest rates unchanged in January rose to 97.2%.

Following the release of the non-farm payroll data, the probability of the Federal Reserve cutting interest rates by 25 basis points in January increased to 2.8% (from 11.6% before the data release), while the probability of keeping rates unchanged rose to 97.2% (from 88.4% before the data release). By March, the probability of a cumulative 25 basis point rate cut was 32.3% (from 35.8% before the data release), the probability of keeping rates unchanged was 66.8% (from 60.6% before the data release), and the probability of a cumulative 50 basis point rate cut was 0.9% (from 3.7% before the data release).