Traders raise bets on March US rate hike after Dec ADP jobs data

NEW YORK: US short-term interest rates futures added to earlier losses on Thursday, suggesting traders raised their bets that the Federal Reserve may raise rates at its March 20-21 policy meeting following stronger-than-expected December private jobs data from ADP.

At 8:58 a.m. (1358 GMT), federal funds futures implied traders priced in a 73 percent chance of a possible March rate hike, up from 68 percent from late on Wednesday, according to CME Group's FedWatch program.