"Inflation is stuck above target and risks are skewed to the upside. Economic activity is robust. We see little reason for additional easing."

Before the strong December jobs report was released, the odds were already low for an interest rate cut in the next Federal Reserve decision on January 29.

Investors are now pricing in just one interest-rate cut from the Federal Reserve this year. Investors expect the central bank's federal-funds rate to end the year just above 4%, according to LSEG data based on market pricing.