UBS: Fed's rate-cutting path remains unchanged but urgency has diminished.

UBS Global Wealth Management noted in a report that despite the stronger-than-expected January non-farm payroll report, evidence of declining US inflation in the coming months should allow the Federal Reserve to maintain its plans for further rate cuts. Chief Investment Officer Mark Heifel stated that the firm's baseline scenario remains a 25 basis point rate cut each in June and September, which "will create a favorable environment for stocks, bonds, and gold." Data from the London Stock Exchange shows that after the non-farm payroll data release, the money market lowered its expectation for the Fed's total rate cuts for the year from approximately 60 basis points to about 50 basis points, and postponed pricing for the next rate cut from June to July. (Jinshi)