Odaily星球日报讯 盛宝银行大宗商品策略主管 Ole Hansen 表示，就业数据并没有“改变美联储两周后降息的前景”。此外，摩根大通资产管理债券专家比尔·艾根（Bill Eigen）则在美联储下次会议前警告市场称，美联储降息的空间可能没有它想象的那么大，各国央行最好不要在 12 月再次降息。他补充说，这是因为有一些迹象表明美国经济开始再次升温，包括强劲的 GDP 增长、略高于预期的上月通胀数据以及创纪录的股价。（金十）

盛宝银行：就业数据并没有改变美联储两周后降息的前景

Odaily Odaily News: Ole Hansen, head of commodity strategy at Saxo Bank, said the employment data did not &quot;change the prospect of a rate cut by the Fed in two weeks&quot;. In addition, Bill Eigen, a bond expert at JPMorgan Asset Management, warned the market before the Fed&#39;s next meeting that the Fed may not have as much room to cut interest rates as it thought, and central banks would be better off not cutting interest rates again in December. He added that this was because there were some signs that the US economy was starting to heat up again, including strong GDP growth, slightly higher-than-expected inflation data last month, and record stock prices. (Jinshi)

Saxo Bank: Employment data does not change the prospect of a Fed rate cut in two weeks

Here is the English translation, with the content inside <> not translated:

The Mars Finance news reported that the closely watched US non-farm payroll data for November this week was better than expected, but not hot enough to prevent the Federal Reserve from cutting interest rates again later this month. The market has raised the probability of a 25-basis-point rate cut in December to around 90%. At the same time, more and more Fed officials are inclined to be cautious about rate cuts. The US inflation data in the coming week is the only important data that could shake the Fed's expectation of a rate cut in December. After the data showed that the US labor market remains strong but also has signs of slowing, Fed officials seem to be expected to cut rates this month, but the debate on possibly pausing rate cuts next year has already been put on the table. Policymakers who spoke before the Fed's silent period generally said they expect interest rates to continue to decline, while taking a cautious approach to the pace of rate cuts. The key points that the market will focus on in the new week are as follows:
<Monday 9:30, China's November CPI year-on-year>
<Monday 23:00, US October wholesale sales month-on-month>
<Tuesday 0:00, US November New York Fed 1-year inflation expectation>
<Wednesday 21:30, US November CPI and core CPI>
<Thursday 21:30, US initial jobless claims for the week ending December 7; US November PPI year-on-year, month-on-month>
<Friday 1:00, the Fed releases the flow of funds for the third quarter of 2024>
<Friday 21:30, US November import price index month-on-month>

Next week's macro outlook: The Fed enters its regular silent period, and CPI data may create suspense about interest rate cuts

Odaily Planet Daily Report: Federal Reserve Governor Harker said on Friday that the Federal Reserve may be time to slow the pace of interest rate cuts. She believes that the Federal Reserve's policy interest rate may not be much higher than the neutral level. Harker pointed out that the financial market expects the Federal Reserve to only cut interest rates once in the next two meetings, and she said that this expectation is consistent with her view. She said that inflation, economic growth and the labor market are still stronger than the Federal Reserve's expectations in September. Harker's speech is one of the most explicit hints from Federal Reserve officials in recent times, suggesting that the Federal Reserve's policy stance may no longer be very firm in cooling inflation and economic growth.

Fed's Hammack: It may be time for the Fed to slow down its rate cuts

Odaily Planet Daily Report: Sarah House, Managing Director and Senior Economist at Wells Fargo, and Aubrey Woessner, Economist, stated that the US November CPI may show that progress in fighting inflation is stalling. The unadjusted CPI year-on-year rate is expected to rise from 2.6% to 2.7%. They believe the unadjusted core CPI year-on-year rate will remain in the narrow range of 3.2%-3.3% for the sixth consecutive month. Although some inflationary factors, such as an overheated labor market, continue to subside, new obstacles unfavorable to the decline in inflation have emerged, including the possibility of imposing tariffs and tax cuts. The US November CPI report will be released next Wednesday, a week before the Fed's interest rate decision. The futures market is currently digesting the Fed's decision to cut rates by 25 basis points. (Gold Ten)