策略师：只有无懈可击的非农数据才能改变降息预期

Core Insights - The National Australia Bank's interest rate strategy head, Ken Crompton, suggests that unless the upcoming non-farm payroll data is exceptionally strong, it is unlikely that there will be significant factors to alter market expectations regarding a Federal Reserve rate cut in September [1] - The terminal rate and the approach to reaching it remain subjects of discussion and debate [1] Summary by Categories - Market Expectations - There is a prevailing expectation in the market for a Federal Reserve rate cut in September, contingent on the strength of upcoming economic data [1] - Economic Indicators - The non-farm payroll data is highlighted as a critical indicator that could influence market sentiment and expectations regarding interest rates [1] - Interest Rate Strategy - The discussion around the terminal rate and the methodology to achieve it indicates ongoing uncertainty and deliberation within the financial sector [1]