WS #15254
The September Non-Farm Payrolls report of 29k significantly missed the 89k consensus, causing Fed rate hike odds to collapse to 16%. This data shock has triggered a broad-based rally in US equities as markets price in a more dovish Federal Reserve stance. The soft labor data is being interpreted as a positive catalyst for growth stocks and rate-sensitive sectors, effectively overriding geopolitical risks.
Fed Pivot and Soft Labor Data
The September Non-Farm Payrolls report of 29k significantly missed the 89k consensus, causing Fed rate hike odds to collapse to 16%. This data shock has triggered a broad-based rally in US equities as markets price in a more dovish Federal Reserve stance. The soft labor data is being interpreted as a positive catalyst for growth stocks and rate-sensitive sectors, effectively overriding geopolitical risks.