CME Group FedWatch's June hike probability leaped above 80%

The solid performance of the U.S. Treasury bond yields on Tuesday boosted the odds for a rate hike in June. CME Group FedWatch tool, which calculates unconditional probabilities of Federal Open Market Committee (FOMC) meeting outcomes to generate a binary probability tree, now shows that the markets are pricing a probability of 83.1% rate hike in June.

• U.S. Treasury bond yields edge higher on Tuesday