Sept 21 U.S. short-term interest rate futures
trimmed earlier losses and some nearer-term maturities rose on
Wednesday after the Federal Reserve kept rates steady and
signaled future rate hikes would be even more gradual than
The change in prices suggests traders are trimming bets on a
rate hike later this year. Before the report traders saw about a
58 percent chance of a December rate hike, and were betting on
another hike in 2017.
The price of futures contracts tied to the Fed's benchmark
policy rate moves inversely to the rate that traders expect at
any given point in time.
(Reporting by Ann Saphir; Editing by Chizu Nomiyama)