The Financial Times comments on the non-farm payroll data, stating that the U.S. created 256,000 jobs in December, exceeding expectations and supporting the argument for the Federal Reserve to slow the pace of interest rate cuts. The U.S. Bureau of Labor Statistics reported that the number of jobs surpassed the 160,000 forecast by Reuters analysts and was also higher than the revised 212,000 jobs in November. The unemployment rate is 4.1%, down from 4.2% in November. As the December employment data is released, there has been a sell-off in the global bond market, partly due to increasing expectations that the Federal Reserve will only make modest rate cuts in 2025. (Jin Shi)