Traders of Federal Reserve interest rate futures contracts on Tuesday increased their bets on further rate cuts from the Federal Reserve after a government report showed a decline in job openings last month, a possible sign of further cooling in the job market.
Interest rate futures contracts showed traders growing increasingly confident the Fed will cut rates by 25 basis points at each of its next two meetings and further cuts next year, with traders reducing bets on a pause in rate cuts in November to around 2%.