Institutional evaluation of non-farm data: there may still be room for further reduction in the bet on a rate cut by the Federal Reserve.

Analyst Cameron Crise stated that the data combination in the non-farm payrolls report gave traders reason to downgrade their expectations of Fed easing. In other words, as they still have priced in expectations of the Fed cutting interest rates more than twice this year, if "hard data" such as non-farm payrolls continue to challenge the recent economic weakness signals sent by "soft data," there is further room for reduction in bets on Fed rate cuts.