Traders add to bets against further Fed rate hikes
U.S. short-term interest-rate futures erased earlier losses and swung higher on Wednesday after the Federal Reserve said it will be "patient" on future interest rate hikes.
Contracts tied to the Fed`s policy rate continued to price about a one-in-four chance of a 2019 Fed rate hike, and contracts maturing in 2020 were signalling a small but rising chance of a rate cut then.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.