Fed funds futures traders see a somewhat higher chance of a quarter-of-a-percentage-point rate hike by the Federal Reserve in September, following a similar-size move in July, after the release of written testimony from Jerome Powell on Wednesday. The chance of a September hike was seen at 15.4%, up from 12.3% a day ago, according to the CME FedWatch Tool. Three-month through 30-year Treasury yields inched Wednesday morning, led by a rise in the 6-month T-bill rate, after the Fed chairman reiterated that policy makers expect higher rates this year.
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