Russell Investments senior investment strategist BeiChen Lin said in a note that Friday’s US September nonfarm payrolls could shift market expectations for the Fed’s rate path. A stronger-than-expected print could be temporarily negative for markets by reinforcing the case for another rate hike this year; a print in line with or slightly below expectations would still show US economic resilience but could prompt markets to pare back pricing for aggressive Fed tightening. Lin added that many key

Russell Investments senior investment strategist BeiChen Lin said in a note that Friday’s US September nonfarm payrolls could shift market expectations for the Fed’s rate path. A stronger-than-expected print could be temporarily negative for markets by reinforcing the case for another rate hike this year; a print in line with or slightly below expectations would still show US economic resilience but could prompt markets to pare back pricing for aggressive Fed tightening. Lin added that many key inf drivers from 2022 are gone, which limits the scope for further Fed rate increases.