Analyst: Strong US employment demonstrates economic resilience, but the Federal Reserve still faces high uncertainty

BlockBeats News, February 12 — Vontobel analyst Andrew Jackson stated that the U.S. added more jobs than expected in January, further confirming the resilience of the economy. However, for policymakers, this has not provided clearer guidance. Although the current economic situation is more predictable than at the beginning of last year, the uncertainty faced by the Federal Reserve remains higher than that of many other central banks. For fixed income investors, the core conclusion is: “Credit fundamentals are okay, macroeconomic conditions are okay, and the U.S. economy shows considerable resilience.” Compared to a year ago, concerns about high valuations of corporate bonds are less pronounced. “I believe credit spreads may remain at current levels or even narrow slightly further.” (Jin10)