Chances of Fed rate cuts in March and May reduced

After the release of U.S. unseasonally adjusted CPI data for December, the three major U.S. stock index futures turned lower, with S&P index futures falling by more than 0.2%. Swaps markets indicate that the likelihood of the Federal Reserve cutting interest rates in March and May has been reduced. The U.S. 30-year Treasury bond yield fell 0.4 basis points and is now at 4.196%. The U.S. 2-year Treasury yield rose 1 basis point to 4.381%. (jin10)