US non-farm data exceeded expectations, supporting the Fed to slow down the pace of interest rate cuts

The Financial Times commented on the non-farm data, saying that the United States created 256,000 jobs in December, exceeding expectations and supporting the Fed's case for slowing the pace of interest rate cuts. The number of jobs released by the U.S. Bureau of Labor Statistics on Friday exceeded the 160,000 expected by analysts in a Reuters survey, and was also higher than the 212,000 revised down in November. The unemployment rate was 4.1%, compared with 4.2% in November. The December employment data came out amid a sell-off in global Treasury markets, partly due to growing expectations that the Fed will only cut interest rates slightly in 2025. (Jinshi)