US yields pull back as rate hike bets ease after inflation data

Traders took stock on Wednesday, moderating their forecasts for Federal Reserve rate hikes after the latest inflation figures. Reports showed inflation's increase for August fell short of economists' predictions. As a result, futures contracts adjusted to reflect a less than even chance of a rate hike in October. However, there remains strong anticipation for a rate increase by December, showcasing the market's response to shifting economic trends.