[Analysis suggests the Fed's 'rate cut tug-of-war' is not over yet] Sarmaya Partners President and Chief Investment Officer Wasif Latif stated that the U.S. September non-farm payroll data far exceeded expectations, prompting the market to adjust and reassess the Fed's 'rate cut tug-of-war.' Currently, the 'no rate cut' camp holds the upper hand, but uncertainties remain in the game. Latif pointed out that October data may better reflect the weakness in the labor market, but as of now, relevant information is not yet available, and judgments can only be made based on existing data.