Fed now projected to hold rates steady at the September meeting — 57% chance.

August payrolls beat expectations by a wide margin. Rate-futures traders now see a September Fed rate hike as the most likely outcome, with implied probability around 52-57%. 58 clean stories shaped this window, with sentiment bearish at 40/100. Also in focus: August payrolls surge 162K, crushing 55K consensus; unemployment steady at 4.1%.