Markets pull back bets on October Fed and ECB rate hikes after weak US jobs data

Both central banks raised rates in September; sticky inflation still argues for more.

Traders no longer expect the Fed or the ECB to follow September's rate hikes with another this month. The shift came after US employers added 29,000 jobs in September, according to the Bureau of Labor Statistics. Economists polled by Bloomberg had expected 90,000. The unemployment rate was 4.2%.

Trump opposes the rate hikes. The Fed raised rates in September anyway.