After the CPI report was released, bond traders are still betting on the Federal Reserve raising interest rates this year.

Due to lower than expected core inflation in the United States in May, US treasuries strengthened slightly. Bond traders are still maintaining bets that the Federal Reserve will raise interest rates before the end of the year. After the release of the Consumer Price Index data, US Treasury yields fell by less than 1 basis point on Wednesday. The two-year US Treasury yield, which is most sensitive to changes in monetary policy, was at 4.11%, lower than the earlier level of around 4.13% on that day.