After a solid January jobs report, more traders are betting that the Fed’s rate-cut pause might not be so brief.

The January jobs report revealed a drop in the unemployment rate to 4%, accompanied by payroll gains of 143,000. A Fed interest rate cut in March is now very unlikely.

Jobs growth slowed in January but a downtick in the unemployment rate, an uptick in wage growth and revisions to prior hiring figures should keep the Federal Reserve on hold when it comes to interest rates,