According to TechFlow, on October 9, according to Jinshi Data, Citi analysts said in a report that although recent labor market data may have caused some market participants to reconsider their expectations for the Fed's interest rate cuts, it is unlikely that the Fed will skip a rate cut during its November meeting.

Although non-farm payrolls increased sharply by 254,000 last Friday, higher than the 140,000 economists expected, analysts suspect that the strong employment report released last Friday may not be sustained. Citi pointed out that the previous string of weak labor market data has led the market to expect the Fed to cut interest rates by at least 25 basis points at each meeting, and may take a larger 50 basis point rate cut.