Bond Market Wagers on Fed Rate Cut Crumble on Jobs Data Void

Bond traders all but scrapped their bets on a December interest-rate cut after the government canceled the publication of the October employment report, leaving Federal Reserve officials without a key piece of economic data before their final meeting of the year.

The Bureau of Labor Statistics said Wednesday that some October jobs data would be rolled into a report to be published after the Fed’s December decision. The announcement prompted traders to scale back expectations for a quarter-point reduction, with odds now heavily pointing to policymakers keeping the benchmark rate on hold at the 3.75% to 4% range.