After the release of the CPI report, bond traders are still betting on the Federal Reserve raising interest rates within the year.

Due to lower than expected core inflation in May, US Treasury bonds saw a slight increase in strength. Bond traders are still betting on the Federal Reserve increasing interest rates before the end of the year. Following the release of the Consumer Price Index (CPI) data, US Treasury bond yields fell by less than one basis point on Wednesday. The two-year US Treasury bond yield, which is the most sensitive to changes in monetary policy, was reported at 4.11%, lower than the earlier level of around 4.13% on that day.