Last month's employment figures painted a mixed picture. Job creation decelerated beyond forecasts in December, signaling that businesses are treading carefully—tariff concerns and the ongoing AI spending spree are weighing on hiring decisions. Meanwhile, the unemployment rate tightened to 4.4%, a notable dip that reinforces market expectations. The takeaway? The Fed is likely to hold pat on interest rates for now. This confluence of softer labor demand coupled with improved jobless metrics creates an interesting dynamic. Traders monitoring macro headwinds should keep tabs on how these signals ripple through risk assets—a steadier Fed backdrop typically supports longer holding periods and shifts investor appetite across markets.