interest-rate futures

Interest-rate futures markets are pricing about a 45% chance of another U.S. rate hike by year's end.

Interest-rate futures trade implies a 95% chance of a 25 bp hike from the Federal Reserve on Wednesday, but markets are also pricing rate cuts by year's end.

Investors raised their bets to a roughly 60% probability of no move following the Fed's May 2-3 meeting, compared to about a 43% chance the day before, based on pricing of interest-rate futures.

There were also rallies in Australian interest-rate futures and Europe futures , which rarely move much in Asia, with traders reckoning global policymakers turn cautious.

Traders of interest-rate futures are pricing in one more 25 basis point increase in March before the Fed pauses to assess how its run-up in interest rates from near zero one year ago is slowing the economy.